Memecoin lawsuit against Caitlyn Jenner dismissed for lack of US jurisdiction

Mars Finance News: A federal judge in California, Stanley Blumenfeld Jr., dismissed the class-action lawsuit against Caitlyn Jenner and her partner Sophia Hutchins. British investor Lee Greenfield claimed losses of over $40,000 from holding Jenner's MEME coin between May and July 2024, accusing the defendants of 9 violations of securities law. The judge believed the plaintiff did not provide sufficient evidence to prove the token transaction was subject to US law, giving him the opportunity to supplement evidence by May 23rd. Greenfield accused the Jenner team of first issuing the JENNER token on Solana, then launching a token with the same name on Ethereum two days later, causing the former to depreciate, and also promoting another pet dog-themed token BBARK. Jenner's team could profit by collecting a 3% transaction fee from the Ethereum version. Previously, Jenner was involved in a memecoin controversy operated by Sahil Arora. (Decrypt)