Noor Bazmi
Crypto investors who appealed the Aug 29 dismissal of the case against Elon Musk for fraud and insider trading are taking the lawsuit back.
In addition to the withdrawal of their appeal, the investors are letting go of the sanctions against Musk’s lawyers. They previously alleged that Tesla’s CEO’s lawyers were fraudulently interfering in the case.
On the other Musk and Tesla have also dropped their request to sanction the other party’s lawyers for pushing a “frivolous” case. They alleged that the investors’ lawyers were constantly changing their legal arguments and pressurizing Musk and his company for settlement over money.
The agreement for the dismissal of the appeal and the motions from both parties were handed over to Manhattan federal court on Thursday night. However, the agreement still awaits approval by Alvin Hellerstein (US District Judge).
