Investors claim Tesla chief used Twitter, paid influencers and his TV appearance to manipulate price of cryptocurrency
Elon Musk is being accused of insider trading in a proposed class action lawsuit by investors. They say the Tesla CEO manipulated the cryptocurrency Dogecoin, costing them billions of dollars.
In a Wednesday night filing in Manhattan federal court, investors said Musk used Twitter posts, paid online influencers, his 2021 appearance on NBC’s Saturday Night Live and other “publicity stunts” to trade profitably at their expense through several Dogecoin wallets that he or Tesla controls.
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