DOGE Questioned as a Security in Musk’s Class-Action Lawsuit
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Key Takeaways
DOGE investors issued a third amended complaint in their class-action lawsuit against Elon Musk.
The complaint includes market manipulation because of tweets, insider trading and calling DOGE a security.
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Elon Musk, CEO of Tesla and owner of Twitter, was issued a third amended complaint in his class-action lawsuit, which introduces new allegations centered around DOGE manipulation and insider trading.
According to the investors’ filing in the United States District Court for the Southern District of New York on May 31, Musk exploited his extensive social media following on Twitter and leveraged his media appearances to capitalize on trades involving DOGE. They claim that his actions “wildly manipulated the market for the Dogecoin cryptocurrency,” resulting in personal gains while negatively impacting other investors.
The complaint specifically points to Musk’s use of Twitter, where he shared tweets and changed the platform’s logo to the Dogecoin logo. These actions allegedly triggered significant price spikes in the token, benefiting Musk’s positions at the expense of fellow investors:
“After this case was filed Musk tweeted to his 100 million followers, ‘I will continue to support Dogecoin,’ and the next business day after filing a motion to dismiss in the instant case Musk changed the Twitter blue bird logo to the Dogecoin Shiba Inu logo for three days, spiking the price of Dogecoin 30%.”
The initial lawsuit was filed in June 2022, prior to Musk assuming the CEO role at Twitter, but has since undergone multiple amendments to reflect his subsequent actions. The third amended case file stated that the investors seek to include allegations of insider trading by Musk and argue that Dogecoin should be classified as a security under the regulations of the U.S. Securities and Exchange Commission, with the docket stating:
“The purchase and sale of Dogecoin is a transaction or scheme involving the issuance of Dogecoin virtual units (‘tokens’ or ‘coins’) to participants in exchange for investment of money.”
The amended lawsuit characterizes the situation as a securities fraud class-action case, accusing Musk of “hijack[ing] an emergent pop-culture phenomenon to cross-promote himself and his companies.” The investors stated that Musk took advantage of the “earnest hopes of vulnerable Americans,” including war veterans, blue-collar workers and the elderly, all the while building his already bloated wealth.
Musk has been using his Twitter platform, which boasts millions of followers, to express his thoughts on DOGE. Here is his first tweet about DOGE in 2019:
Dogecoin might be my fav cryptocurrency. It’s pretty cool.
— Elon Musk (@elonmusk) April 2, 2019
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Key Takeaways
DOGE investors issued a third amended complaint in their class-action lawsuit against Elon Musk.
The complaint includes market manipulation because of tweets, insider trading and calling DOGE a security.
Share this article
URL Copied
Elon Musk, CEO of Tesla and owner of Twitter, was issued a third amended complaint in his class-action lawsuit, which introduces new allegations centered around DOGE manipulation and insider trading.
According to the investors’ filing in the United States District Court for the Southern District of New York on May 31, Musk exploited his extensive social media following on Twitter and leveraged his media appearances to capitalize on trades involving DOGE. They claim that his actions “wildly manipulated the market for the Dogecoin cryptocurrency,” resulting in personal gains while negatively impacting other investors.
The complaint specifically points to Musk’s use of Twitter, where he shared tweets and changed the platform’s logo to the Dogecoin logo. These actions allegedly triggered significant price spikes in the token, benefiting Musk’s positions at the expense of fellow investors:
“After this case was filed Musk tweeted to his 100 million followers, ‘I will continue to support Dogecoin,’ and the next business day after filing a motion to dismiss in the instant case Musk changed the Twitter blue bird logo to the Dogecoin Shiba Inu logo for three days, spiking the price of Dogecoin 30%.”
The initial lawsuit was filed in June 2022, prior to Musk assuming the CEO role at Twitter, but has since undergone multiple amendments to reflect his subsequent actions. The third amended case file stated that the investors seek to include allegations of insider trading by Musk and argue that Dogecoin should be classified as a security under the regulations of the U.S. Securities and Exchange Commission, with the docket stating:
“The purchase and sale of Dogecoin is a transaction or scheme involving the issuance of Dogecoin virtual units (‘tokens’ or ‘coins’) to participants in exchange for investment of money.”
The amended lawsuit characterizes the situation as a securities fraud class-action case, accusing Musk of “hijack[ing] an emergent pop-culture phenomenon to cross-promote himself and his companies.” The investors stated that Musk took advantage of the “earnest hopes of vulnerable Americans,” including war veterans, blue-collar workers and the elderly, all the while building his already bloated wealth.
Musk has been using his Twitter platform, which boasts millions of followers, to express his thoughts on DOGE. Here is his first tweet about DOGE in 2019:
Dogecoin might be my fav cryptocurrency. It’s pretty cool.
— Elon Musk (@elonmusk) April 2, 2019
Share this article
URL Copied
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
A TIKTOK INFLUENCER and member of the Travelling Community with more than 125,000 online followers has been awarded €20,000 in damages against top retailer Zara and its security company, Bidvest Noonan, for defaming her character. Judge Roderick Maguire said in the Circuit Civil Court that Krystal Joyce (20) of Glendhu, Ratoath Road, Dublin 15, had
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A TIKTOK INFLUENCER and member of the Travelling Community with more than 125,000 online followers has been awarded €20,000 in damages against top retailer Zara and its security company, Bidvest Noonan, for defaming her character.
Judge Roderick Maguire said in the Circuit Civil Court that Krystal Joyce (20) of Glendhu, Ratoath Road, Dublin 15, had been a truthful witness who had suffered significant upset – particularly when a female security member pulled back a cubicle curtain in the changing area while she was trying on clothes and only partly dressed.
“I find Joyce was a truthful witness and was particularly upset because she has a social media presence through which she does her best to raise awareness for the Travelling Community of which she is a member,” Judge Maguire said.
Barrister Esther Earley outlined to the court how Joyce would frequently visit store
Showbiz Celebrity WHAT THE HECK? Comedians’ wildest onstage meltdowns…punch-ups, evicting a baby & star who shoved heckler’s phone up his BUM One famous comic won a standing ovation after insulting the city he was performing in for 12 minutes straight Tom Bryden Published: 16:05, 12 Feb 2025 Updated: 8:52, 14 Feb 2025 STAND up comedy
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WHAT THE HECK?
Comedians’ wildest onstage meltdowns…punch-ups, evicting a baby & star who shoved heckler’s phone up his BUM
One famous comic won a standing ovation after insulting the city he was performing in for 12 minutes straight
Tom Bryden
STAND up comedy is no easy task – and dealing with unruly hecklers is a part-and-parcel challenge of putting on live shows.
But sometimes that line between comedy comeback and genuine anger is crossed, leading to some serious onstage meltdowns and even security having to intervene.
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Peter Kay has come under fire for the way he treated a pair of hecklers at his show last weekendCredit: Getty
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Footage from the incident shows the moment he calls for security to ‘Kick them in the f***ing face’Credit: Youtube / bwfcbone
14
Myar Curran, 25, was left upset after being compared to Emmerdale star Lisa Riley – though Kay defended his actionsCredit: MEN Media
They’re moments that leave the audience in stitches – or plunged into an awkward atmosphere that only a true pro would be able to salvage.
Only this weekend, legend Peter Kay lost it at a couple of audience members who were interrupting the Manchester leg of his Better Later Than Never…Again! Tour.
The Bolton-born legend was repeatedly interrupted by a heckler who kept shouting out his “garlic bread?” catchphrase.
But it soon got too much for Kay, who responded: “Garlic bread? Kick him in the f***ing face, will ya? Everyone around you is thinking, ‘pr**ck’”.
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The comic then gets a light pointed at the disruptive fan, before saying “Give us a wave, k***head.”
“Look at him, he doesn’t know where he is,” he said, before leading a chant of “You’re going out.”
“He’s not laughing now is he?” he said, before a woman in the audience starts shouting prompting Kay to instruct security to boot her out too.
“Go on Lisa Riley, f*** off,” he shouted after her.
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The surprisingly angry outburst left many in the audience uncomfortable – and both the people kicked out have criticised Kay, though the comic defended his actions.
So join us as we take a look at some of the other wild meltdowns comedians have had on stage…
Jimmy Carr
Peter Kay breaks his silence on his decision to kick out hecklers who were ‘spoiling the show’
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Jimmy Carr lost it after an audience member called his jokes boring and unfunnyCredit: Getty
Funnyman Jimmy Carr is known for leaving his audiences in stitches with his dark humour, edgy jokes and savage put-downs to hecklers.
But things turned serious back in 2021 when the 8 Out of 10 Cats star lost it at an audience member while on his Terribly Funny tour in Poole, Dorset.
According to a source at the show, a heckler made a bunch of loud remarks throughout, shouting out that Carr’s jokes weren’t funny and that he’d heard them before.
Carr had to be interrupted three or four times, getting him “visibly frustrated” according to the source, before he eventually snapped back at the audience member.
“You’ve got to f***ing go,” Carr can be heard saying in a recording of the incident.
“If it’s any consolation, I’ll keep the money”, he added, before the apologising to the audience after the man was removed by security.
Stewart Lee
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Comedian Stewart Lee got so annoyed with an audience member using their phone he put it down his trousersCredit: Getty
Comedians are known for getting annoyed at audience members secretly filming their shows – not only due to copyright issues, but because of the risk their material might be posted online out of context.
And Stewart Lee is no exception – teaching one audience member a very unsanitary lesson after warning them to put their phone away during a performance in Oxford in 2022.
He jiggled around with the phone shoved in his bum
Audience member
Though the fan insisted they weren’t recording, Lee leapt from the stage and stanched the device away, shouting, “I f***ing warned you.”
He then smashed it down on the stage before dropping his trousers and shoving it between his cheeks.
Another horrified audience member said: “He jiggled around with the phone shoved in his bum.”
Stewart ended the outburst by calling the fan an idiot and telling him that the phone was now in a jiffy bag with sanitiser.
Kevin Bridges
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Scottish comic Kevin Bridges later apologised to the audience after a fan pestered him for a selfieCredit: Getty
Scottish comic Kevin Bridges lost his cool on stage back in 2015 after a fan kept pestering him for a selfie during a show in Glasgow.
Bridges initially agreed to a photo, but the audience member was sent back to his seat after asking to get up on the stage.
The man then told the comedian to “remember his roots,” prompting a fierce snap-back.
“Remember my roots? F*** off,” he said.
“Do you think this is my roots? Pictures and people asking for selfies, that’s all I hear every day: ‘Kev, can I get a picture, give us a picture Kev’.
“People are not here to see you. The deal is you buy a ticket for the show, you don’t buy me. What do you know about my roots?” he angrily continued, before later apologising to the rest of the audience for the outburst.
Pete Davidson
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Saturday Night Live star Pete Davidson was criticised for a rant he delivered towards an uninterested audience of college studentsCredit: Getty
US comic Pete Davidson launched into an expletive-filled rant back in 2019 after audience members at a Florida university wouldn’t stop going on their phones.
In footage of the outburst that since went viral on Youtube, the Saturday Night Live star tears into the students, calling them “privileged little assholes” and “embarrassing.”
You should f***ing grow up
Pete Davidson
“If you film everything and not enjoy the show for f***ing an hour, then, like, I don’t gotta be here,” he said, adding “I could just give them their money back because I don’t give a f***.”
Some of the audience then started to applaud, but Davidson wasn’t done.
“Don’t clap, that’s the problem…that’s why the world is gonna end in 25 years, because you’re all f***ing r*tarded.
“You should f***ing grow up,” he shouted amid boos from the crowd, before continuing with the set that was later condemned by the university.
Russel Howard
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Russell Howard was so annoyed at a fan using their phone he cut short the whole setCredit: Getty
Bristolian funnyman Russell Howard lost his cool during a small show in his hometown back in 2020 – and ended up cutting the set short.
After noticing a woman trying to secretly film him, he vented “that’s literally the worst thing you can do.”
He then told her to “live in the moment”, and asked her how she would like it if someone started filming her at her workplace and mimicking taking his phone out and aiming it at her.
“I was really looking forward to this gig,” he added, before giving his apologies to the stunned crowd, picking up his backpack and heading for the exit.
Alex Williamson
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Comedian Alex Williamson calls himself ‘Australia’s loosest bloke’ and has been caught up in a number of mid-show fightsCredit: Instagram
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Footage from a gig posted to his Instagram shows the moment the comic is punched in the head by an audience member who had been heckling himCredit: Instagram
Aussie comedian Alex “Shooter” Williamson is no stranger to getting into fights with his audience – and was almost glassed during a set in Adelaide in 2020.
Williamson stopped his show after he noticed a man “talking about his Jameson” instead of paying attention to the set.
Get the f*** out, c***
Alex Williamson
“You were raised like a c***. I am glad [your parents] are f***ing dead so they didn’t have to see their son evolve into such a f***ing useless sack of sh*t,” he lashed out.
And when the man retaliated saying he hadn’t laughed once, Williamson, who calls himself “Australia’s loosest bloke,” walked over and repeatedly kicked his table while shouting “Get the f*** out, c***.”
After his drink was kicked over, the heckler tried to hit Williamson over the head with a chair before other audience members stepped in.
The man then lobbed three glasses at the comedian, though fortunately missed.
It followed a similar incident during a set in March that year, at a pub in Sydney.
Who are the world’s richest comics?
PETER Kay may have lost a couple of fans last Saturday, but he’s laughing all the way to the bank as 2024’s fourth biggest comedy earner thanks to a £27million paycheck from his arena tours – but who else is making the big bucks?
1. Nate Bargatze – £56.2m 2. Sebastian Maniscalco – £38m 3. Jerry Seinfeld – £31.16m. 4. Peter Kay – £27m 5. Bert Kreischer – £21.4m 6. Trevor Noah – £20.8m 7. Jo Koy – £20.7m 8. Kevin Hart – £17.2m 9. Jeff Dunham – £15.2m 10. Andrew Schultz – £13.4m 11. Tina Fey & Amy Poehler – £11.9m 12. Leanne Morgan – £10.9m 13. Bill Burr – £11.3m 14. Jim Gaffigan – £10.8m 15. Michael McIntyre – £10.3m
Footage shows the comic knock a heckler’s hat off, before the audience member smashed his beer into Williamson’s head.
Williamson then stormed off, downed the beer, before chucking it onto the stage and downing another beer amid chants of “Shooter” from the crowd.
And in March 2021, Williamson got into yet another scrap when he threw beer over a man who had been repeatedly heckling him.
Despite holding out his mic as an olive branch, the man then punched Williamson in the head before being dragged off by security.
Arj Barker
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Arj Barker faced backlash after booting a mother and her baby out of a show in MelbourneCredit: Getty
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The star later apologised to mum Trish – though defended his move to kick the pair outCredit: A current Affair/Nine
Flight of the Conchords star Arj Barker got caught up in a row that went international after kicking out a mother and a baby from a show in Melbourne last year.
The stand up asked mum Trish to leave after accusing her seven-month old of “disrupting” the show with a variety of noises.
The incident sparked severe backlash, with the mum claiming she was reduced to tears.
She said: “He was like, ‘Oh no, it’s really disruptive, you’re interrupting my rhythm’…then he threw back to the crowd and was basically trying to get their support to say ‘Get out’.”
I’ve nothing against babies, in fact I was one once, for almost two years
Arj Barker
Barker has since made peace with the mum and apologised for the embarrassment caused, though stood by his decision pointing out that the show was advertised for over-15s only.
“I’m sorry that was a difficult situation and I would like to make peace”, he later said.
“To the beautiful baby who I have nothing against, I want to offer that little child a ticket to my show post-dated 2039.
“I’ve nothing against babies, in fact I was one once, for almost two years,” Barker also joked in a separate interview.
Adam Kay
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Adam Kay lashed out at an audience member who kept going on their phone, despite repeatedly being warned not toCredit: Getty
Doctor-turned-comedian Adam Kay booted out an audience member during a show last year in Sydney – once again because they wouldn’t come off their phone.
The Brit was wrapping up the show with a moving anecdote about the importance of the NHS when he turned his anger on the disruptive fan sitting on the front row, who had been asked multiple times to put their phone away.
Seriously, don’t go to the theatre
Adam Kay
“Put. Your. F***ing. Phone. Away!” shouted the author of best-selling book This is Going To Hurt.
Kay then cut short his show, saying “You’ve been a wonderful audience – except for one person who’s really f***ed me off.”
“Seriously, don’t go to the theatre,” he added in a final jab against the audience member.
Bill Burr
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American legend Bill Burr faced down a rowdy crowd in Philadelphia with a 12 minute roast of the cityCredit: Getty
Bill Burr is one of the all-time greats of the American comedy circuit and is no stranger to handling difficult crowds.
Back in 2006, Burr faced a tough Philadelphia audience who had been jeering and heckling previous acts all night.
But when they tried to boo Burr off the stage, instead of leaving, he launched into a 12-minute roast of just about everything the US city holds dear, from its food to its sporting icons – and he didn’t hold back.
“F***ing Rocky is your hero. The whole pride of your city is built around a f***ing guy who doesn’t exist,” Burr says at one point.
“Let’s talk about heart disease, something you’re all gonna f***ing die of. And I’m gonna laugh at you’re f***ing funerals which is gonna be great.
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“F*** the Liberty Bell, and shove it up Ben Franklin’s ass,” he added in an attack on one of the city’s most famous pieces of heritage.
The performance was so legendary it had since been dubbed the “Philadelphia incident” – and ended up winning a standing ovation from the unruly crowd.
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