The Meme Coin Platform, which is based in Solana, has been submitted with a lawsuit to take action claiming that every symbol launched on the platform is an unregistered guarantee, generating approximately $ 500 million of fees.
The lawsuit was filed by Diego Aguar in a federal court in New York on January 30, claiming that the UK-run platform. Paton Company– Participate in “Aggressive marketing tacticsThis artificial amplified demand for very volatile symbols has led to losses for retailers.
Read more: Pump.fun Founder accuses Soneium Soneium Blockchain from Memecoins in the Black List on the launch day
Prosecutions against pump.fun
The complaint accuses Pump.fun of cooperation with the influencers of cooperation in the issuance and promoting unregistered securities, describing the platform operations as an advanced form of Ponzi plans, pump and discharge.
Both defendants in the lawsuit are Alon Cohen, Dylan Kerler and Noah Benhard Hugo Tweedale, all of whom are listed as Baton Corporation employees in the records of UK companies.
Aguilar claims that he bought many distinctive pump.fun and stated that all Memecoins on the platform qualify as unregistered securities because the platform controls technical infrastructure, liquidity, pricing, marketing, etc.
source: Court
The lawsuit seeks to cancel all symbolic purchases, monetary damage to affected investors, and the costs of litigation.
Pump.fun and Baton Corporation did not comment on the lawsuit, and the information related to its legal representation was not immediately available.
This is not the first time that a pump has been presented. In the middle of January, Burwik stated that he had been following legal measures against the pleasure of the platform due to the withdrawal of the alleged rug and the unreasonable promises that led to the investor losses.
Burwik said that the platform has become a space for annoying content, as illegal drug abuse, self -harm, racism, anti -Semitism, obscene actions, and violent images publicly were shown.
