Caitlyn Jenner memecoin buyers to regroup after judge tosses suit
A California District Court judge dismissed a class-action lawsuit against Caitlyn Jenner and her manager, Sophia Hutchins, regarding the JENNER memecoin, citing insufficient claims of securities violations and fraud. The judge found that the plaintiffs failed to demonstrate that their purchases occurred in the U.S. and did not provide adequate details about the transactions. The court allowed the plaintiffs to amend their complaint by May 23, emphasizing the need for a more focused approach. The lawsuit accused Jenner of fraudulently soliciting investors, but the judge noted that claims lacked evidence of misleading statements or unregistered securities sales. The JENNER token, launched in May 2024, has significantly lost value, dropping from nearly $7.5 million to around $58,775.
