Meme coin lawsuit against Caitlyn Jenner dismissed due to lack of US jurisdiction

According to Decrypt, California federal judge Stanley Blumenfeld Jr. has dismissed a class action lawsuit against Caitlyn Jenner and her partner Sophia Hutchins. The plaintiff, British investor Lee Greenfield, claims to have incurred losses of over $40000 from May to July 2024 due to holding Meme coins issued by Jenner, accusing the defendant of violating nine securities laws and other charges. The judge believes that the plaintiff has not provided sufficient evidence to prove that the token transaction is governed by US law, and has given them the opportunity to provide additional evidence until May 23rd. Greenfield accused the Jenner team of first issuing the JENNER token in Solana, and two days later launching a token of the same name on Ethereum, causing the former to depreciate. During this period, they also promoted another pet dog themed token, BBARK. Jenner can make a profit by charging a 3% transaction fee for the Ethereum version. Previously, Jenner was involved in the Memecoin controversy managed by Sahil Arora.