A federal judge on Thursday dismissed a class-action lawsuit against Tesla and CEO Elon Musk for manipulating the market by publicly praising Dogecoin (DOGE). The plaintiffs, representing investors who said they were harmed by Musk’s social media comments in recent years, sought $86 billion in damages. Judge Alvin K. Hellerstein wrote in his two-page decision: “These statements are illusory and exaggerated, neither factual nor provable. They cannot form the basis of a lawsuit and no reasonable investor can rely on them.”
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