The $258 billion lawsuit has expanded with new plaintiffs and defendants
The massive lawsuit has added several new plaintiffs as well as Musk’s Boring Company and the Dogecoin Foundation, the non-profit organization behind the meme coin, among new defendants. , Dogecoin investor Keith Johnson filed a $258 billion class-action complaint against Musk, alleging that the centibillionaire run a pyramid scheme by promoting the most popular meme coin. Johnson also named Tesla and SpaceX in the initial version of his lawsuit.
The lawsuit alleges that the defendants manage to earn billions by promoting Dogecoin. Apart from seeking monetary damages, Johnson also wants to block Musk and his businesses from promoting the meme cryptocurrency in the future.Dogecoin experienced a gargantuan rally in the first half of 2021. The meme coin’s spectacular success was mainly fueled by Musk’s frequent tweets that were often accompanied by memes.
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