A federal judge dismissed a lawsuit against Jenner over meme coin losses, highlighting potential legal ambiguities ahead.
According to PANews, a federal judge in California, Stanley Blumenfeld Jr., has dismissed a class-action lawsuit against Caitlyn Jenner and her partner, Sophia Hutchins. The lawsuit was filed by British investor Lee Greenfield, who claimed losses exceeding $40,000 from holding a meme coin issued by Jenner between May and July 2024. Greenfield accused the defendants of violating securities laws and other charges. The judge ruled that Greenfield failed to provide sufficient evidence that the token transactions were subject to U.S. law, granting him until May 23 to present additional evidence.
Greenfield alleged that Jenner's team initially launched the JENNER token on Solana and then released a token with the same name on Ethereum two days later, causing the former to devalue. During this period, they also promoted another pet-themed token, BBARK. Jenner's team reportedly profited by collecting a 3% transaction fee on the Ethereum version. Previously, Jenner was involved in a controversy surrounding memecoins managed by Sahil Arora.
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