Federal Judge Dismisses Class Action Against Caitlyn Jenner Over JENNER Memecoin

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2026-04-19 18:38:02

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A California federal judge has ruled in favor of Caitlyn Jenner, dismissing a class action lawsuit alleging her JENNER memecoin constituted an unregistered security. The decision sets a precedent for celebrity-backed cryptocurrencies by applying the Howey test—a benchmark for determining investment contracts under U.S. law.

Investors claimed losses exceeding $40,000 after the token's price collapse, but Judge Stanley Blumenfeld Jr. found no evidence of pooled funds or profit expectations—key criteria for securities classification. The ruling leaves unresolved broader questions about regulatory oversight for influencer-driven digital assets.

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