Odaily Planet Daily News Pump.fun is hiring top lawyers to respond to the Burwick Law lawsuit. Burwick Law accuses Pump.fun of illegally obtaining millions of dollars by selling "highly volatile unregistered securities" and lacking compliance measures, making it likely to be involved in "terrorist financing, drug trafficking and other transnational crimes."
Max Burwick, founder of Burwick Law, and the law firm Wolf Popper are representing Kendall Carnahan and other plaintiffs in a class action lawsuit against Pump.fun. Burwick Law is a law firm focusing on the crypto industry and is currently initiating multiple lawsuits and investigations against multiple crypto companies and tokens. Burwick Law alleges that many of the tokens generated on Pump.fun are essentially similar to the "pump and dump" model, and there are unfair manipulations against investors.
In response to the lawsuit, Baton Corporation, the parent company of Pump.fun, has hired several lawyers from the well-known law firm Brown Rudnick to form a defense team, including former SEC investigator Daniel L. Sachs, crypto litigation expert Kyle P. Dorso and senior crypto lawyer Stephen D. Palley. (protos)