‘Not a Scam 😂:’ Caitlyn Jenner Is Being Sued For Memecoin Securities Fraud

A class-action lawsuit filed Wednesday accuses Caitlyn Jenner of securities fraud over her $JENNER memecoin, which the complaint says cost investors tens of thousands of dollars. Plaintiffs Naeem Azad of the UK and Mihai Caluseru of Romania claim they lost a combined $56,000, and the complaint alleges Jenner was required to register the token with the SEC before selling it and willfully failed to do so. The complaint also says that after Jenner called the project a scam, its market capitalization fell to $5 million.