Musk asked a U.S. judge on March 31 to dismiss a $258 billion lawsuit. Musk’s lawyers said investors never explained how Musk intended to deceive others and how he concealed risks.
It is not illegal to tweet supportive remarks or funny pictures about a legitimate cryptocurrency, the lawyers said.
Last June, a Dogecoin investor filed a lawsuit against Musk, his Tesla and Space Exploration Technologies for $258 billion. Dogecoin was originally created as a joke, but its price has seen wild swings at Musk’s prodding.