Pump.fun hires renowned lawyer to handle Burwick lawsuit

BlockBeats News: On June 19th, pump.fun is hiring top lawyers to handle the Burwick Law lawsuit. Burwick Law accuses Pump.fun of illegally obtaining millions of dollars in funds through the sale of "highly volatile unregistered securities" and the lack of compliance measures, which may involve "terrorist financing, drug trafficking, and other transnational crimes". Max Burwick, founder of Burwick Law, and law firm Wolf Popper are representing Kendall Carnahan and other plaintiffs in a class action lawsuit against Pump Fun. Burwick Law is a law firm specializing in the cryptocurrency industry, currently initiating multiple lawsuits and investigations against multiple cryptocurrency companies and tokens. Burwick Law accuses that many tokens generated on pump.fun essentially resemble a "pump and dump" model, engaging in unfair manipulation of investors. In response to the lawsuit, Baton Corporation, the parent company of pump.fun, has hired several lawyers from renowned law firm Brown Rudnick to form a defense team, including former SEC investigator Daniel L. Sachs, crypto litigation expert Kyle P. Dorso, and senior crypto lawyer Stephen D. Paley.