Pump.fun, a memecoin launchpad, is facing legal challenges from Burwick Law. The rising conflict has led to the hiring of top lawyers for defense.
Escalation of Legal Battles
Burwick Law first filed a class action lawsuit against Pump.fun in January, accusing the platform of misconduct and violations of U.S. securities laws. The firm claims that the platform’s offerings artificially inflate token prices, leading to significant investor losses.
Lawyers Supporting Pump.fun
According to recent reports, Pump.fun's parent company, Baton Corporation, has hired several high-profile attorneys, including experts in crypto litigation from the international law firm Brown Rudnick. Among the new hires is former SEC investigator Daniel L. Sachs.
Ongoing Situation
The situation escalated following the suspension of Pump.fun's official social media accounts, allowing Burwick Law to renew calls for affected investors to join the lawsuit. Currently, over 500 participants are included in the class action.
The legal battles between Pump.fun and Burwick Law continue to escalate, with both sides preparing for further court battles.
