Caitlyn Jenner Wins Dismissal in Crypto Lawsuit Over Meme Coin Losses

A California federal judge has dismissed a class action lawsuit filed against Caitlyn Jenner and her business partner Sophia Hutchins over losses tied to the $JENNER meme coin. The lead plaintiff, British investor Lee Greenfield, claimed over $40,000 in losses after holding the token between May and July 2024.

U.S. District Judge Stanley Blumenfeld, Jr. ruled that the case lacked jurisdiction, stating there was no clear evidence the token purchases occurred in the U.S. Without proof Jenner “incurred irrevocable liability” under U.S. securities laws, the court could not proceed.

Greenfield accused Jenner and Hutchins of misleading investors by launching $JENNER on Solana and then creating a near-identical version on Ethereum days later, which allegedly devalued the original. He also alleged Jenner promoted a separate token, $BBARK, named after her dogs, despite claiming she was focused solely on $JENNER.

The lawsuit outlined nine legal claims, including securities fraud, contract breach, and misrepresentation. It also alleged Jenner collected a 3% transaction fee from the Ethereum version of the coin.

The judge noted that Greenfield provided limited details about his token purchases, only stating that he bought them using ETH and SOL. This lack of clarity failed to establish grounds for protection under U.S. law.

Although the lawsuit was dismissed, Greenfield has until May 23 to amend and refile with stronger evidence. Jenner and Hutchins must respond by June 6 if a new complaint is submitted.

This ruling comes amid growing scrutiny of celebrity-backed crypto projects and increasing legal hurdles for international investors seeking recourse in U.S. courts.

The case highlights the importance of regulatory clarity and investor due diligence in the volatile world of meme coins and celebrity-endorsed tokens.