Caitlyn Jenner Dismissed From Lawsuit Over Jurisdiction Issues

Caitlyn Jenner and her business partner, Sophia Hutchins, have been dismissed from a class action lawsuit filed by a British investor, Lee Greenfield. The lawsuit, which alleged that Jenner and Hutchins misled investors and violated securities laws, was thrown out by a California federal judge due to a lack of U.S. jurisdiction. The judge ruled that Greenfield failed to provide sufficient evidence that his token purchases, worth over $40,000, were made in the U.S. and that Jenner and Hutchins did not incur irrevocable liability under U.S. securities laws.

Greenfield's lawsuit presented nine legal arguments against Jenner and Hutchins, including federal securities violations, California state securities laws, fraud, and contract disputes. He alleged that Jenner and Hutchins misled investors by launching a meme coin on the Solana platform and then creating identical coins on the Ethereum platform two days later, causing the first to lose value. Greenfield also claimed that Jenner promoted another token named after her and Hutchins' dogs, despite allegedly assuring followers that she was fully focused on the tokens in her name. Additionally, Greenfield alleged that Jenner profited from these moves by collecting a 3% fee on all transactions from the meme coin's Ethereum version.

However, the judge noted that Greenfield's complaint provided scant details about his purchases, only alleging that he accumulated the tokens using crypto from the Ethereum and Solana blockchains. The judge dismissed the current lawsuit but gave Greenfield until May 23 to file a new complaint with better evidence that his purchases qualify for U.S. legal protection. Jenner and Hutchins were given until June 6 to respond to any amended filing.

This ruling highlights the complexities of jurisdiction in the digital asset space, particularly when it comes to foreign-created tokens. The judge's decision underscores the importance of providing clear and detailed evidence of where and how token purchases were made, as well as the need for investors to understand the legal protections available to them in different jurisdictions. The dismissal of the lawsuit does not necessarily mean that Jenner and Hutchins are free from legal scrutiny, as Greenfield has the opportunity to file a new complaint with more robust evidence. However, it does serve as a reminder of the challenges faced by investors seeking to recover losses from digital asset investments.