- Elon Musk’s legal team in the Dogecoin manipulation lawsuit faces changes as one of his lead in-house lawyers files a motion to resign.
- The lawsuit alleges that Musk was involved in market manipulation and insider trading related to Dogecoin, and his legal team is actively addressing these allegations.
Elon Musk, the CEO of Tesla and Twitter, is currently embroiled in a legal battle concerning allegations of market manipulation and insider trading related to Dogecoin (DOGE). Recent developments reveal discrepancies within Musk’s legal team, as one of his lead in-house lawyers has filed a motion to resign. The lawyer, Adam Gabor Mehes, who is based in Manhattan, has been a key member of Musk’s legal team for nearly a year, actively participating in various litigation involving the Tesla CEO.
The exact reasons behind Mehes’ withdrawal are not clear at this time. It could be a personal decision made by the lawyer, or Musk may have decided to terminate Mehes’ services. What stands out is that Mehes’ resignation comes shortly after the New York Post reported on a leaked letter from Musk’s legal team, adding further intrigue to the situation.
In the leaked letter, Elon Musk vehemently denied owning the crypto wallets allegedly used for the manipulated DOGE trades. Interestingly, a replacement for Mehes has already been found. Another court document reveals that Allison Huebert, a trial lawyer from the law firm Quinn Emanuel, has joined Musk’s legal team.
Musk’s ongoing lawsuit revolves around allegations that he engaged in insider trading and manipulated the price of Dogecoin. Investors claim that Musk used Twitter posts, paid influencers, and his appearance on “Saturday Night Live” to artificially boost DOGE’s price. Furthermore, the investors accuse Musk of selling $124 million worth of Dogecoin after replacing the Twitter logo with the Dogecoin logo, resulting in a 30% price increase.
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Elon Musk’s legal team has refuted these allegations, stating in written responses that Musk does not own the Dogecoin wallets associated with the large transactions. However, observers have noted Musk’s significant influence on the Dogecoin market through his Twitter posts and public statements.
As the legal proceedings continue, it remains to be seen how the court will assess the allegations against Musk. The outcome of this lawsuit could have significant implications for both Musk’s reputation and the future of Dogecoin.
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