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- Pump Fun’s parent company, Baton Corporation, hired a top-tier legal team from Brown Rudnick.
- The lawsuit from Burwick Law alleges Pump Fun earned millions from unregistered securities.
- The case is still in the early stages, with no confirmed trial date.
Baton Corporation, the parent company of memecoin platform Pump Fun, has hired some of the biggest names in crypto litigation. The move comes in response to a class-action lawsuit brought by Burwick Law. The plaintiffs accuse Pump Fun of making millions from selling unregistered and unstable tokens.
Currently, Brown Rudnick is the counsel of Baton Corporation. Their legal team is composed of Daniel L. Sachs, who was once SEC’s legal counsel (for cryptocurrencies); Kyle P. Dorso, known as a crypto litigation expert; and Stephen D. Palley, an experienced lawyer in digital assets. Each has its own unique strength to offer in defense of the case, which now gains attention across the entire crypto space.
A Team Built for High-Stakes Crypto Litigation
Sachs’ background encompasses the practice of white-collar defense and security fraud investigation he did earlier in life at the SEC. Dorso also represented famous personalities such as Shaquille O’Neal in recent NFT-related cases. He gained popularity for helping resolve a major lawsuit involving Atomic Wallet after a $100 million hack.
Palley, who heads Brown Rudnick’s Digital Commerce Group, draws on a wealth of experience dealing with crypto derivatives, blockchain developers, and protocol creators. The team aims to address the claims made by Burwick Law.
Burwick Law is suing Pump Fun, claiming the platform enables the creation and sale of tokens that bypass legal jurisdictions. The case has drawn criticism and attention, especially because users created a large number of tokens on Pump Fun’s platform.
Burwick Law Files Suit Against Pump Fun
Burwick Law sparked the suit by filing complaints against Alon Cohen, Dylan Keller, and Noah Tweedale, the co-founders of Pump Fun. At that point in time, the team did not have legal representation. Just one day before their response deadline, they hired Brown Rudnick, which gave a big boost to this case. This delay made them request an extension.
Burwick Law argued that the platform of memecoin based on memetics particularly gives rise to pervasively transgressive manipulation and constitutes a money laundering mesh. The same law firm is now working with Wolf Popper in order to help a group of plaintiffs, led by Kendall Carnahan.
The suits filed by Burwick Law are creating a precedent of the same kind in the crypto community. Although now Pump Fun’s defendants are some of the best businesses have, this case is still to be adjudicated. There has been no announcement on when they will go to trial.
A jury has been asked for a trial, although it is not clear if the lawsuit will eventually go to one. Thus far, both sides are getting ready for a protracted legal dispute, which may be the guiding light on how meme coin platforms operate in the future.
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