3 ms·
> Johnson is seeking to represent a class of people who have lost money trading in Dogecoin since April 2019. He is asking for $86 billion in damages, plus trip
by bko 4y ago
> Johnson is seeking to represent a class of people who have lost money trading in Dogecoin since April 2019. He is asking for $86 billion in damages, plus triple damages of $172 billion, as well as an order blocking Musk and the companies from promoting Dogecoin, and declaring that Dogecoin trading constitutes gambling under US and New York law.
I am not a lawyer, but don't you have to prove that you actually incurred those damages? Was this dude long $100 billion on Doge?
- cududa 4y ago“Seeking to represent a class” - he can bring the case as a class action lawsuit but a) needs to get others to join his class then b) if the judge accepts it, other defendants can jockey for being the one representing the case. Different lawyers will make different arguments why they should get the case then the judge chooses which plaintiff and lawyers get the class action. So that’s what “seeking to represent a class” means. He’s not seeking that amount for himself, but rather to distribute to everyone who bought dogs based on Musk’s tweeting
- jjtheblunt 4y agoJohnson's greed and entitlement ($172 billion?) are remarkable.
- soSadm4n 4y agoNo more than Musks; he’s not building all that stuff. But name on paperwork is all it really takes to be “richest in the world.”
- thephyber 4y agoOr… he’s just bootstrapping a class action lawsuit and using some guerrilla marketing (a fantastical damages claim to get lots of social media coverage). It’s almost like he’s using similar tactics to those Musk uses with his companies… Not remarkable. In the age of Trump, this is basic opening offer for a negotiation. The further you move the opening offer beyond the value you expect, the more you influence the Overton Window in your benefit.