Judge Colleen McMahon has dismissed Burwick Law’s claims against Solana Labs, Solana Foundation, and its execs as part of the ongoing Pump Fun lawsuit.
Yesterday’s court filing revealed McMahon’s orders that either denied or approved Pump Fun’s various motions to dismiss allegations put forward by Burwick Law.
Racketeering (RICO) allegations that accuse Pump Fun’s parent company, Baton Corporation, and its executives, Noah Bernhard Hugo Tweedale, Alon Cohen, and Dylan Kerler, of wire fraud, illegal gambling, and unlicensed money transmission were upheld.
These two allegations were submitted by plaintiffs Carnahan and Okafor, but RICO claims put forward by the plaintiff Aguilar were dismissed.
Pump Fun memecoins FRED and GRIFFAIN are not securities
The judge also dismissed allegations that Pump Fun defendants broke the Securities Act by offering unregistered securities.
They claim the two memecoins FRED and GRIFFAIN did not entail a “common enterprise” and, as such, do not fulfill the Howey Test.
Crypto law firm founder Ariel Givner has noted, however, that this ruling does not mean all memecoins aren’t securities. She stressed this ruling only applies when a memecoin does not offer a shared goal of profits rising for everybody.
Allegations of unjust enrichment were also dismissed from the suit.
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Burwick Law hasn’t served 25 unnamed KOLs yet
The judge has also asked Burwick Law to explain why it hasn’t been able to serve 25 key opinion leaders (KOLs) since the lawsuit was filed in January 2025.
It accused the unnamed KOLs of promoting Pum Fun tokens and, in some cases, “concealing both their compensation and their own preexisting positions in the tokens they promoted.”
Burwick Law has until September 10 to explain why these KOL claims “should not be dismissed for failure to identify and serve them.”
The crypto influencer “Scooter” was named as one of these defendants in a previous filing. They shortly threatened to sue Burwick Law for “potential defamation.”
Solana Labs and Jito Labs were added last year
Burwick Law’s lawsuit added Solana Labs and Solana Foundation over a year ago.
It claimed the two worked together to avoid US securities laws and extract capital from the US market.
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It argued that Solana crypto infrastructure provided “no investor protections, disclosure obligations, or legal accountability” for the memecoin craze and its losses.
Jito Labs was also added alongside Solana Labs as a lawsuit defendant. However, Burwick Law voluntarily dropped Jito Labs months later.
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