Caitlyn Jenner #Memecoin Lawsuit Dismissed, But Buyers Plan To Continue Fight
A California judge has dismissed a class-action lawsuit against #CaitlynJenner over her self-titled memecoin, finding all nine claims "deficient."
Judge Stanley Blumenfeld Jr. allowed the group to amend their suit by May 23 but warned it must be "more focused and judiciously pleaded."
Lead plaintiff Lee Greenfield claimed to have lost over $40,000 buying
$JENNER tokens.
The court found securities law violations couldn't stand as the complaint didn't allege purchases took place in the U.S.
The
$JENNER token has lost virtually all its value since launch, with its market cap crashing from $7.5 million to approximately $58,775, and just $61 in #trading volume over the past day.
