07:08 AM EDT, 08/30/2024 (MT Newswires) -- Tesla (TSLA) and Chief Executive Elon Musk won a lawsuit claiming that they rigged the price of cryptocurrency Dogecoin, after the district court judge dismissed the case.

According to a court document on Thursday, Judge Alvin Hellerstein for the US District Court of the Southern District of New York granted with prejudice Tesla and Musk's motion to dismiss.

Plaintiffs, which included Colby Gorog and Joshua Flint, accused Musk of using Twitter posts and other publicity stunts to inflate the price of Dogecoin.

Musk's alleged misrepresentations of Dogecoin including him saying it is the future currency of Earth, as well as the standard for the global financial system and the currency of the internet. Musk also allegedly said that he would put a literal Dogecoin in SpaceX and fly it to the moon, according to the case.

Judge Hellerstein ruled that such statements about Dogecoin were "aspirational and puffery, not factual and susceptible to being falsified," and that "no reasonable investor could rely upon them."

The judge also dismissed the plaintiffs' claims of market manipulation and insider trading against Musk and his company as "not possible to understand."

Tesla did not immediately respond to MT Newswires' request for comment.

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