Dogecoin investors have decided to drop their $248 billion class action lawsuit against Elon Musk. This lawsuit alleged that Musk made misleading statements regarding Dogecoin, contributing to significant financial losses for investors, particularly following incidents like his appearance on Saturday Night Live. In August, U.S. District Judge Alvin K. Hellerstein ruled that Musk's statements were merely 'aspirational and puffery,' leading to the lawsuit's dismissal. On November 15, 2024, both parties informed the court of their intention to end the case, including withdrawing any outstanding motions. The contentious nature of the lawsuit saw it evolve into accusations of unlawful harassment between legal representatives. The initial complaint, filed in 2022, faced multiple amendments but ultimately could not substantiate claims of a 'pump and dump' scheme. With the dismissal, outstanding motions for sanctions were also addressed, removing allegations against Musk's legal team and resolving claims of frivolousness leveled by Musk’s representatives.

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