Elon Musk is accused of insider trading by investors in Dogecoin lawsuit

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Elon Musk is accused of insider trading by investors in Dogecoin lawsuit
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Twitter's blue bird logo with Dogecoin's Shiba Inu dog logo, leading to a 30% jump in Dogecoin's price.

Twitter's blue bird logo with Dogecoin's Shiba Inu dog logo, leading to a 30% jump in Dogecoin's price.

Musk bought Twitter last October. He also runs SpaceX, a rocket and spacecraft manufacturer, as well as Tesla, which makes electric cars. Investors have accused Musk, the world's second-richest person according to Forbes magazine, of deliberately driving up Dogecoin's price more than 36,000% over two years and then letting it crash.

In a Wednesday order, U.S. District Judge Alvin Hellerstein said he would "likely" allow the third amended complaint, saying the defendants would not likely be prejudiced.

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