Court Sides With Caitlyn Jenner in Memecoin Lawsuit

Jack Inabinet

Tue, April 21, 2026 astatine 12:07 PM CDT 1 min read

Ruling for the United States District Court, Central District of California, Judge Stanley Blumenfeld Jr. has dismissed a pending people enactment suit against Caitlyn Jenner implicit the Olympian's self-promoted memecoin.

What's the Scoop?

• Not a Security: A national justice has declined to certify the people enactment suit sought successful the lawsuit of Naeem Azad v. Caitlyn Jenner, ruling that the JENNER memecoin does not represent a information nether national law. The tribunal recovered nary grounds of a "common enterprise," arsenic capitalist funds were not pooled oregon utilized to physique a product, cardinal requirements nether the Howey Test. Although Jenner engaged successful vague selling efforts, promising to usage her token's 3% commercialized taxation to institute a buyback program, capitalist occurrence was speculative and not straight tied to Jenner's efforts.

• Prior Guidance: Following the motorboat and consequent illness of JENNER, successful February 2025, the Securities and Exchange Commission (SEC's) Division of Corporate Finance issued a unit statement, clarifying that national securities laws bash not typically use to memecoins – describing them arsenic speculative, entertainment-driven assets akin to collectibles, with nary pooled concern operation oregon anticipation of profits derived from the efforts of others.