The lawyer said for a group of Caitlyn Jenner’s memecoin consumers that they would continue their legal fight against the ex-Olympian after a judge threw the case out of failing to support the security and claims of the fraud it brought.
Jenner escaped a lawsuit in action from the consumers of his self-titled Memecoin, Caitlyn Jenner (Jenner) said after California district Judge Stanley Blumenfeld Jr. in the suit in his remarkable failure in a claim.
He allowed the class team to change its suit, which should be filed on May 23, but it was warned that it would be “more focused and decisive” than the original.
A lawyer for the class group, Fitzgerald Monroe Flynn PC partner Jack Fitzgerald, told Cointelegraph that “the court is pleased to recognize that we can tell some claims against the defendants, and intend to change and press forward the case.”
Jenner and his manager, Sophia Hutchins, was charged in November Through a group who bought a Jenner token and accused them of having “fraudulent financial demands that were not forced” in the token, which is said to be an unregistered security.
Lee Greenfield, a UK citizen, was added as the top plaintiff in January and claimed that he had lost more than $ 40,000 purchases to Jenner. But the court found, for a start, that the claims of security law violations could not stand because he did not claim that his purchase of Jenner had occurred in the US, as the law requires, and was given “less detail” about purchases.
The court deletes all claims of Jenner’s tokenholders
All in Filed In February, which included accusations that Jenner and Hutchins either made misleading statements, selling unregistered security, or committed various fraud.
Judge Blumenfeld said the suit failed to announce that Jenner had sold the token through a prospectus containing a false statement, as “Greenfield admitted that $ Jenner tokens were not sold by a prospectus.”
The court also threw a common accusation of law fraud, stating the complaint allegedly removal of the information and mentioned Jenner’s various X posts that “said he would continue to support the tokens,” but it did not specify which of the statements related to the claim of fraud.
The group also accused Hutchins for helping and avoiding Jenner’s alleged deceptive behavior, but Judge Blumenfeld said the claim was failed because the complaint was “not enough to say any good claims of fraud.”
In a footnote, Judge Blumenfeld said Jenner and the class team had been arguing if the Jenner token was a security, but he would not decide at this stage because “security claims failed on other basis.”
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“Since determination if the tokens are security depends on the truth and may be affected by a amended plea, the court refused to resolve this issue at this stage and instead assumed without deciding that the tokens were security subjects subject to the laws of federal security,” he wrote.
Jenner was first launched in May 2024 by Pump.Fun to Solana Blockchain but soon Riding in controversy After Jenner and other memecoin launching celebrities claimed cooperating Sahil Ahil Ahil Ahil.
Jenner announced the token at Ethereum, which the class group claimed to have tapped the value of the original Solana token, but gave Jenner the benefit of collecting a 3% fee per transaction.
Jenner has lost all of its values since the launch. Coingecko Shut up Its market value crashed at about $ 58,775 from a June 3 peak of nearly $ 7.5 million. The token saw only a $ 61.10 amount of trading volume on the last day.
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