Caitlyn Jenner Meme Coin lawsuit was thrown due to lack of jurisdiction in the United States

A federal judge in California abandoned the class action lawsuit against Caitlyn Jenner and her business partner Sofia Hutchins.

The lawsuit “does not assert any facts regarding where and how Jenner provided this liquidity,” wrote US District Judge Stanley Blumenfeld Jr.

Without indicating how token purchases were made in the United States, the judge said that the court could not “rationally presume” that Jenner “has been “an irrevocable liability” under the US securities law.”

A copy of the order filed last Thursday granting a motion for rejection was obtained and reviewed Decryption from Law360.

Lead plaintiff Lee Greenfield claims he lost more than $40,000 on sale. Jenner’s meme coin Losses after holding it between May and July 2024. He has been identified by Judge Blumenfeld Jr. as the “investment with the greatest losses.”

The lawsuit presented nine legal arguments against Jenner and Hutchins. Targeting seven Jenners directly, federal securities violations, California securities law, fraud, contract disputes, and two (fraud support) against two Hutchins.

Greenfield also misunderstood investors by Jenner and her business partner Sofia Hutchins launch $Jenner on one platform (Solana), creating the same coin in Ethereum two days later, creating the first coin. Lose value.

During the creation of Solana and Ethereum tokens, Greenfield claims that Jenner promoted “another token ($BBARK) named after her and Hutchins’ dog.”

The Greenfield lawsuit also alleged that Jenner benefited from these moves by collecting a 3% fee on all transactions from the Ethereum version of Memecoin.

However, Greenfield’s main complaint “provides details about the purchase of Greenfield,” the judge added, adding that Greenfield only claimed that he had paid cryptographically from the Ethereum and Solana blockchains (ETH and SOL) and “accumulated” the tokens.

While dismissing the current case, the judge is making sure Greenfield is filed through May 23rd with better evidence that the purchase qualifies for US legal protection. Jenner and Hutchison were given until June 6th to accommodate the revised application.

Decryption We contacted Jenner through the reporter survey form on their website. Decryption He also made efforts to establish contact with Greenfield, which does not maintain public email.

edit Sebastian Sinclair