Solana Labs Dropped from Pump Fun Lawsuit as RICO Allegations Persist

A Burwick Law lawsuit against Solana Labs and its executives has taken another turn as Judge Colleen McMahon dismissed several allegations. The Pump Fun lawsuit, which was filed in January 2025, accused Solana of working with Jito Labs to avoid US securities laws and extract capital from the US market.

The judge denied or approved various motions to dismiss allegations by Burwick Law, but dropped Solana Labs from the suit as part of this process. Racketeering (RICO) allegations against Pump Fun's parent company, Baton Corporation, and its executives were upheld, however.

The court also dismissed claims that memecoins FRED and GRIFFAIN were unregistered securities, citing a lack of a 'common enterprise' to fulfill the Howey Test. Ariel Givner, founder of crypto law firm, noted this ruling does not mean all memecoins aren't securities.

Additionally, Judge McMahon asked Burwick Law to explain why they have yet to serve 25 unnamed Key Opinion Leaders (KOLs) accused of promoting Pump Fun tokens and concealing their compensation. The KOLs include the crypto influencer 'Scooter', who previously threatened to sue Burwick Law for potential defamation.