PANews reported on May 13 that according to Decrypt, California federal judge Stanley Blumenfeld Jr. dismissed the 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 defendant of nine counts including violating securities laws. The judge believed that the plaintiff did not provide sufficient evidence to prove that the token transaction was governed by US law, and gave him the opportunity to supplement his 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.
