Description
A dogecoin purchaser sued Elon Musk, Tesla and SpaceX for $258B, alleging that they orchestrated a pyramid scheme by hyping the cryptocurrency and engaged in an “illegal wire fraud enterprise,” an illegal gambling business, common-law fraud, false advertising, among other allegations.
Legal Significance
To what extent are celebrities and individuals with significant influence culpable for the fluctuations in value of specific cryptocurrencies they have promoted or endorsed?
Status
Settled
Case No.
1:22-cv-05037
Date Filed
June 16, 2022
Plaintiff
Colby GorogJoshua FlintLouis RobinsonMichael Lerro
Defendant
Elon MuskTesla Inc.Dogecoin Foundation Inc.
Court
USDC Southern District of New York
Plaintiff Counsel
Evan Spencer Law PLLCThe Perez Law Firm LLC
Defendant Counsel
Quinn Emanuel Urquhart & Sullivan LLPLevine Lee LLP
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