Caitlyn Jenner Meme Coin Lawsuit Tossed for Lack of US Jurisdiction
A California federal judge dismissed a class action lawsuit against Caitlyn Jenner and Sophia Hutchins, ruling that the British investor, Lee Greenfield, could not use U.S. courts to recover losses. The judge noted that the lawsuit lacked facts on how Jenner provided liquidity and failed to demonstrate that token purchases occurred in the U.S., preventing any inference of liability under U.S. securities laws. Greenfield claimed to have lost over $40,000 by selling Jenner's meme coin after holding it for two months. The lawsuit included nine legal arguments, primarily against Jenner, alleging securities violations, fraud, and contract disputes. Greenfield accused Jenner of misleading investors by launching identical tokens on different platforms and profiting from transaction fees. The judge found Greenfield's complaint insufficient in detail regarding his purchases and allowed him until May 23 to file a revised complaint. Jenner and Hutchins must respond to any amended filing by June 6.
