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Twitter CEO Elon Musk Accused of Insider Trading in Amended Dogecoin (DOGE) Class Action Complaint
Yawn
Another American Oligarch getting caught milking the common folk out of their rent money
#NotShocked
According to Reuters, the investors claim financial losses as a result of the Twitter CEO’s deliberate acts to inflate the price of the popular meme cryptocurrency.
In the proposed third amendment filed with the Manhattan federal court on Wednesday, investors accuse Musk of using Twitter posts, paying influencers, appearing on an episode of NBC’s “Saturday Night Live” and doing other publicity stunts so he can trade profitably at the expense of other investors.
They also cite an incident in April when Musk sold about $124 million worth of Dogecoin after the price of the token jumped by 30% following the billionaire’s decision to change Twitter’s blue bird icon with DOGE’s Shiba Inu dog logo.
The filing alleges that Musk’s “deliberate course of carnival barking, market manipulation and insider trading” allowed him to defraud investors as well as promote himself and his companies.
In the proposed third amendment filed with the Manhattan federal court on Wednesday, investors accuse Musk of using Twitter posts, paying influencers, appearing on an episode of NBC’s “Saturday Night Live” and doing other publicity stunts so he can trade profitably at the expense of other investors.
They also cite an incident in April when Musk sold about $124 million worth of Dogecoin after the price of the token jumped by 30% following the billionaire’s decision to change Twitter’s blue bird icon with DOGE’s Shiba Inu dog logo.
The filing alleges that Musk’s “deliberate course of carnival barking, market manipulation and insider trading” allowed him to defraud investors as well as promote himself and his companies.
https://dailyhodl.com/2023/06/02/twitter-ceo-elon-musk-accused-of-insider-trading-in-amended-dogecoin-doge-class-action-complaint-report/
