- Tesla and Elon Musk have gone on the offensive against the lawyer representing the Dogecoin plaintiffs.
- A new filing by Musk claimed that the plaintiff’s lawyer knew that his premise of the case was false.
- Musk and Tesla stated in the filing that the wallets associated with the DOGE sales did not belong to them.
- Dogecoin tanked more than 7% on the day that Musk and Tesla submitted their filing.
Elon Musk and Tesla Inc. have gone on the offensive against the lawyer representing the plaintiffs in the lawsuit filed by Dogecoin investors. In a recent filing with the U.S. District Court for the Southern District of New York, the tech billionaire, and his electronic vehicle giant sought Rule 11 sanctions against Evan Spencer of Even Spencer Law. Spencer represents a prospective class of Dogecoin who sued Musk and his EV firm for manipulating the price of the memecoin for personal giants.
Dogecoin Tanked 7% Following Elon Musk’s Latest Court Filing
According to a report by Reuters, Elon Musk and Tesla filed a motion for Rule 11 sanctions against Evan Spencer, the lawyer representing the plaintiffs in the Dogecoin lawsuit. They claimed in the latest filing that Spencer was aware of his case being based on a false premise before he lodged his claims. The latest claims marked a new offensive from Musk and his legal team.
The latest court filing by Elon Musk and Tesla came more than a month after Spencer filed an amended complaint on behalf of the plaintiffs. The complaint accused the tech billionaire of netting billions of dollars by dumping DOGE after hyping up the memecoin on Twitter, which Musk recently acquired. However, the new filing by Musk’s attorneys argued that the wallets cited in the amended complaint were not owned by Tesla or its owner.
The filing further stated that Spencer was aware of the same before he submitted the amended complaint, which included accusations of insider trading. Elon Musk and Tesla urged the overseeing judge to dismiss the amended complaint and sanction Evan Spencer. DOGE lost more than 7% of its value following the filing of the motion for sanctions. At the time of writing, the meme token was trading at $0.0699.