Pump.Fun Token Purchase Notice: Wolf Popper LLP and Burwick Law Announce the Filing of a Class Action Lawsuit Against Baton Corporation Ltd. d/b/a Pump.Fun
Wolf Popper LLP and Burwick Law filed a class action complaint on behalf of a Class of all investors who purchased cryptocurrency memecoins or tokens that were issued by, promoted by, or sold by the defendants through Pump.Fun, or for which the defendants solicited the sale of through Pump.Fun (collectively, the “Tokens”). The defendants are Baton Corporation Ltd., d/b/a Pump.Fun, Alon Cohen, Dylan Kerler, and Noah Bernhard Hugo Tweedale.
The lawsuit, filed on January 30, 2025 in the United States District Court for the Southern District of New York, alleges that the Pump.Fun website, which is owned and operated by defendant Baton Corporation Ltd., allows users to create and issue their own memecoins, and that because of the standardized process and controls for, and characteristics and marketing of, the memecoins put in place by Pump.Fun, all memecoins issued by Pump.Fun (i.e. the Tokens) are securities as defined by the Securities Act of 1933, required registration statements for the Tokens were never filed with the U.S. Securities and Exchange Commission (“SEC”), and that Baton Corporation violated Sections 5 and 12(a)(1) of the Securities Act by selling and soliciting the sale of unregistered Token securities. The complaint further alleges that the defendants Alon Cohen, Dylan Kerler, and Noah Bernhard Hugo Tweedale are control persons of Baton Corporation and, pursuant to Section 15 of the Securities Act, are jointly and severally liable for Baton Corporation’s violations of the Securities Act.
The class action seeks to recover damages on behalf of all purchasers of the Tokens.
The case is Aguilar v. Baton Corporation Ltd. d/b/a Pump.Fun et al., No. 1:25-cv-00880, pending in the U.S. District Court for the Southern District of New York.