A class action lawsuit in the United States against Pump.fun, a memecoin platform, has expanded. It now includes Solana, Jito, and several of their top executives. These include Anatoly Yakovenko and Raj Gokal, Solano co-founders.
Filed on July 22 with the District Court for the Southern District of New York, the amended complaint alleges that Pump.fun—a platform for launching and trading memecoins on the Solana blockchain—operated as a coordinated racketeering enterprise. It claims the platform simulated the functions of an illegal digital casino, disguised as meme coin creation and trading.
The complaint is making a RICO claim for this reason. This complaint targets and holds criminal organizations accountable. RICO comes from the Racketeer Influenced and Corrupt Organizations Act of 1970, a US federal law targeted to fight organized crime and corruption.
David Schwartz explained that the RICO Act crucially extends liability beyond those who directly commit illegal acts, targeting individuals who own or manage organizations that facilitate such activities.
The plaintiffs originally filed the complaint against Pump.fun on January 30 of this year. The initial defendants were Baton Corporation Ltd., a United Kingdom-based company that owned and operated Pump.fun. The filing also named the co-founders—Alon Cohen, Dylan Kerler, and Noah Bernhard Hugo Tweedale.
Filed on Tuesday in the amended suit, the law firms behind the claim—Burwick Law and The Wolf Popper law firm—expanded the list of defendants. They included all participants and facilitators of the alleged racketeering enterprise.
The class action now names Solana Foundation and Solana Labs, the entities behind the Solana blockchain network. It also includes co-founders Anatoly Yakovenko and Raj Gokal, the company’s CEO and COO, respectively. Other individuals named are Solana Foundation Executive Director Dan Albert, President Lily Liu, and former communications lead Austin Federa.
