Elon Musk, CEO of Tesla and Twitter, is currently facing insider trading charges related to Dogecoin (DOGE). And a new court document It appears that there are inconsistencies in Musk’s legal team. The billionaire lost one of his high-profile lawyers at home. The news comes after the New York Post reported a leaked letter from Musk’s legal team.
The court document reveals that Adam Gabor Mehs, a Manhattan attorney, has filed a motion to resign from his position as counsel in the $258 billion lawsuit over alleged Dogecoin manipulation. Mehes has been part of Musk’s legal team for nearly a year and has been actively involved in a variety of lawsuits involving the Tesla CEO.
The reasons for Muhais’ withdrawal are unclear. The lawyer could have filed the application for personal reasons, and on the other hand, Musk could have fired Muhais. Remarkably, Mihis’ request comes shortly after a letter from Musk’s legal team was leaked to the New York Post.
In the letter, Elon Musk denied owning the cryptocurrency wallets that were said to be used in fraudulent DOGE deals. Significantly, an alternative has already been found. Another court document reveals that Musk’s legal team has brought in a new attorney: Allison Hubert.
The attorney most recently worked as a trial attorney at the law firm of Quinn Emanuel. Also interesting: Musk said in a tweet last year that his company was building a “hardcore legal department” that reported directly to him. A few months later, Mask hired Muhais.
Elon Musk denies Dogecoin insider trading
As previously reported, Musk has to defend himself in court against investors who are said to have lost several million US dollars. Last week, an amended complaint was filed with the relevant court, alleging that Musk used Twitter posts, paying influencers, appearances on the TV show “Saturday Night Live” and similar appearances to artificially boost the price of DOGE.
The alleged investors also accuse Elon Musk of selling $124 million worth of Dogecoin in April this year after replacing the Twitter logo with a Dogecoin logo, which led to a 30% increase in the price of Dogecoin.
His legal team has disputed the allegations in writing, stating that Musk was not the owner of Dogecoin wallets that held and sold large amounts of DOGE.
However, observers should not be surprised by the lawsuit. After all, it has been possible for some time to observe how Elon Musk artificially boosted the price of Dogecoin (DOGE) apparently through Twitter posts and similar public statements.
At the time of publication, Dogecoin is priced at $0.0619.
Featured image by Lagatar English, chart from TradingView.com
