Elon Musk, the fabulously wealthy innovator, faces a class-action lawsuit from investors who accuse him of insider trading and manipulating Dogecoin (DOGE). Musk’s actions allegedly led to a significant rise in Dogecoin’s price. Its subsequent crash left the investors in a bad place, they claim.
Long known for his flamboyant persona, Musk has played fast and loose with cryptocurrency and even conducted insider trading. That’s according to a class action lawsuit filed by a group of DOGE investors on Wednesday.
Musk Manipulated Market, Say Investors
They allege that Musk, whom Forbes ranks as the second wealthiest billionaire on the planet, did a variety of questionable things. According to a CNN story on Monday, a recent filing in Manhattan federal court claimed Musk used paid online influencers, tweets, his 2021 cameo on NBC’s “Saturday Night Live,” and other publicity stunts. His goal? To trade and enrich himself while…
