Pump.fun Hires Top Lawyers to Defend Against Securities Lawsuit

Pump.fun, a platform known for its involvement in the cryptocurrency industry, has taken a significant step in its legal defense by hiring top-tier lawyers to tackle a lawsuit filed by Burwick Law. The lawsuit alleges that pump.fun has illegally raised millions of dollars by selling "highly volatile unregistered securities" without proper compliance measures. The allegations also suggest that the platform's activities may be linked to serious transnational crimes, including terror financing and drug trafficking.

Max Burwick, the founder of Burwick Law, along with the law firm Wolf Popper, is representing Kendall Carnahan and other plaintiffs in a class-action lawsuit against pump.fun. Burwick Law specializes in the cryptocurrency industry and is currently involved in multiple lawsuits and investigations targeting various crypto companies and tokens. The firm claims that many tokens created on pump.fun resemble "pump and dump" schemes, which involve manipulative practices that are unfair to investors.

In response to the lawsuit, Baton Corporation, the parent company of pump.fun, has assembled a robust defense team. The team includes several prominent lawyers from the well-known law firm Brown Rudnick. Notable members of the defense team are former SEC investigator Daniel L. Sachs, crypto litigation expert Kyle P. Dorso, and veteran crypto attorney Stephen D. Palley. This move underscores pump.fun's commitment to vigorously defending against the allegations and protecting its interests in the legal battle.