BlockBeats News: On June 19, pump.fun is hiring top-tier lawyers to respond to the Burwick Law lawsuit. Burwick Law alleges that pump.fun illegally obtained millions of dollars in funds through the sale of “highly volatile unregistered securities” while lacking compliance measures that may have implicated it in “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 focused on the crypto industry and is currently initiating multiple lawsuits and investigations against several crypto companies and tokens. Burwick Law alleges that many of the tokens generated on pump.fun are similar in nature to a “pump and dump” model, which is unfair to investors. In response to the lawsuit, Baton Corporation, the parent company of pump.fun, has hired multiple attorneys from well-known law firm Brown Rudnick to form a defense team, including former SEC investigator Daniel L. Sachs, crypto litigation expert Kyle P. Dorso, and veteran crypto attorney Stephen D. Palley.
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