PANews reported on May 13 that U.S. 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 over $40,000 between May and July 2024 due to holding the Meme coin issued by Jenner, accusing the defendants of violating securities laws among nine other charges. The judge found that the plaintiff did not provide sufficient evidence to prove that the token trading was subject to U.S. law, granting him the opportunity to supplement evidence by May 23.
Greenfield accused the Jenner team of first issuing the JENNER token on Solana, and two days later launching the same name token on Ethereum, which led to the devaluation of the former. During this period, they also promoted another pet dog-themed token, BBARK. Jenner's side could profit by collecting a 3% transaction fee on the Ethereum version. Previously, Jenner was involved in a memecoin controversy orchestrated by Sahil Arora.
