Judge Dismisses Key Claims in Pump Fun Lawsuit Against Solana Labs

A federal judge has dismissed several claims made by Burwick Law against Solana Labs and its executives in the ongoing Pump Fun lawsuit. The suit, which was filed in January 2025, alleged that Solana Labs and others were involved in a scheme to avoid US securities laws and extract capital from the market.

However, Judge Colleen McMahon has denied or approved several of these claims, including allegations of racketeering (RICO) against Pump Fun's parent company and its executives. The judge also dismissed claims that Pump Fun's memecoins FRED and GRIFFAIN were unregistered securities.

Ariel Givner, founder of crypto law firm, noted that the ruling does not mean all memecoins are not securities, but rather that this specific case did not meet the necessary criteria. Burwick Law has also been asked to explain why it hasn't served 25 key opinion leaders (KOLs) since the lawsuit was filed.

Solana Labs and Jito Labs were added as defendants last year, with Burwick Law claiming that Solana's crypto infrastructure provided no investor protections or legal accountability for the memecoin craze and its losses. However, Burwick Law voluntarily dropped Jito Labs months later.