Memecoin lawsuit against Caitlyn Jenner dismissed for lack of US jurisdiction

Odaily News Stanley Blumenfeld Jr., a federal judge in California, dismissed a class action lawsuit against Caitlyn Jenner and her partner Sophia Hutchins. The plaintiff, British investor Lee Greenfield, claimed that he lost more than $40,000 between May and July 2024 due to holding Meme coins issued by Jenner, and accused the defendants of nine counts including violating securities laws. The judge believed that the plaintiff did not provide sufficient evidence to prove that token transactions were governed by US law, and gave him the opportunity to provide additional evidence until May 23.
Greenfield accused Jenner's team of issuing the JENNER token on Solana first, and then launching the same token on Ethereum two days later, causing the former to depreciate, and also promoting another pet dog-themed token BBARK during this period. Jenner can profit by charging a 3% transaction fee on the Ethereum version. Previously, Jenner was involved in the memecoin controversy operated by Sahil Arora. (Decrypt)