Pump.fun, a Solana-based meme coin platform, faces a proposed class-action lawsuit for allegedly violating U.S. securities laws by profiting nearly $500 million from unregistered securities. The lead plaintiff claims significant losses from trading tokens like FWOG, FRED, and GRIFFAIN, which were marketed with promises of high returns. The lawsuit names Baton Corporation and its co-founders as defendants, seeking rescission of token purchases and damages for affected investors.
read more