Judge dismisses Solana Labs from Pump Fun lawsuit

Judge Colleen McMahon threw out Burwick Law's claims against Solana Labs, the Solana Foundation, and their executives in the ongoing Pump Fun litigation.

A court filing from yesterday detailed how McMahon ruled on each of Pump Fun's bids to dismiss the allegations brought by Burwick Law.

RICO counts targeting Pump Fun's parent Baton Corporation and executives Noah Bernhard Hugo Tweedale, Alon Cohen, and Dylan Kerler — for wire fraud, illegal gambling, and unlicensed money transmission — survived the dismissal efforts.

Plaintiffs Carnahan and Okafor had put forward those two allegations, whereas the RICO claims from another plaintiff, Aguilar, were tossed.

FRED and GRIFFAIN memecoins ruled not securities

McMahon also dismissed accusations that Pump Fun defendants violated the Securities Act through unregistered security offerings.

The judge determined that the two memecoins FRED and GRIFFAIN lacked a "common enterprise" and therefore failed the Howey Test.

Ariel Givner, who runs a crypto law practice, pointed out that the decision does not make every memecoin a non-security. She emphasised it only covers cases where a memecoin lacks a collective profit expectation for all holders.

The suit's unjust enrichment claims were also rejected.

Burwick Law still hasn't served 25 unnamed KOLs

McMahon has also ordered Burwick Law to account for its failure to serve 25 key opinion leaders (KOLs) since the case began in January 2025.

The law firm alleged that these unnamed KOLs promoted Pump Fun tokens and, in some instances, "concealing both their compensation and their own preexisting positions in the tokens they promoted."

Burwick Law must explain by September 10 why the KOL claims "should not be dismissed for failure to identify and serve them."

The crypto influencer known as "Scooter" was listed among the defendants in an earlier filing. Shortly after, they threatened a defamation suit against Burwick Law over "potential defamation."

Solana Labs and Jito Labs joined as defendants last year

Burwick Law brought Solana Labs and the Solana Foundation into the case more than a year ago.

The complaint alleged they colluded to sidestep US securities regulations and draw money out of the US market.

The suit contended that the Solana crypto framework offered "no investor protections, disclosure obligations, or legal accountability" for the memecoin frenzy and resulting losses.

Jito Labs was also named as a defendant together with Solana Labs. But Burwick Law later dropped Jito Labs on its own accord.