Solana Labs Dropped from Pump Fun Lawsuit as Judge Upholds RICO Allegations

A court filing revealed that Judge Colleen McMahon has dismissed Burwick Law's claims against Solana Labs, Solana Foundation, and its executives in the ongoing Pump Fun lawsuit. The dismissals came as part of various motions to dismiss allegations put forward by Burwick Law.

The judge upheld Racketeering (RICO) allegations that accuse Baton Corporation's parent company and its executives of wire fraud, illegal gambling, and unlicensed money transmission. However, RICO claims put forward by plaintiff Aguilar were dismissed.

The court also ruled that Pump Fun memecoins FRED and GRIFFAIN are not securities, stating they do not entail a 'common enterprise' and therefore do not fulfill the Howey Test. Crypto law firm founder Ariel Givner noted this ruling does not mean all memecoins aren't securities.

Burwick Law has been asked to explain why it hasn't served 25 unnamed key opinion leaders (KOLs) since the lawsuit was filed in January 2025, as the judge requested an explanation by September 10. The firm added Solana Labs and Jito Labs last year, claiming they worked together to avoid US securities laws and extract capital from the US market.