Judge katsch reject case we say Caitlyn Jenner memecoin na security

One US federal judge commot dismiss di class-action case over di Caitlyn Jenner memecoin, rule say di JENNER token no be “security” under di investment contract (Howey) test. Judge Stanley Blumenfeld Jr. talk say di plaintiffs no fit prove key tins like say dem bin put money together as one pooled enterprise and say investors go get structured, shared financial returns wey other people effort go drive. Di court sef talk say “promotion alone…no mean common enterprise,” wey weak di claim say celebrity marketing be investment scheme. Di lawsuit start after people claim say dem lose money when JENNER price drop sharply and later amendments (May 2025) talk say investors expect buybacks, marketing, and other benefits. Di court find say di filings no clear show how investors go receive financial returns, and e point say some proposed plans come after people don buy and some never happen. Di judge deny more amendments and carry related claims go state court. For traders, this one reduce legal/regulatory wahala about whether Caitlyn Jenner memecoin na security. But e no remove market risks like tokenomics and liquidity—tins wey still fit affect JENNER price movement.