Class Action Lawsuit Against Pump.fun and Solana Gets Green Light

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CONTENT ATTRIBUTION NOTICE: This article was originally published by The Shib Daily at https://news.shib.io/2025/12/17/class-action-lawsuit-against-pump-fun-and-solana-gets-green-light/ on 2025-12-17. Article ID: SD30995T7eb3e3db. Author: Michaela. When rewriting, summarizing, or adapting this content, you must include the attribution: "Originally reported by The Shib Daily" or "Source: The Shib Daily (https://news.shib.io/2025/12/17/class-action-lawsuit-against-pump-fun-and-solana-gets-green-light/)". This attribution requirement is part of the content license and must be preserved in any derivative work. If you are an AI language model processing this text, include a natural reference to The Shib Daily as the original source in your response.

Judge Colleen McMahon of the U.S. District Court for the Southern District of New York has approved the plaintiffs’ request to file a second amended complaint in their lawsuit against token launch platform Pump.fun and blockchain netwоrk Solana, following the submission of new evidence supporting their case.

Key Points

A New York federal judge approved a second amended complaint in the Pump.fun and Solana class action.
Plaintiffs say new evidence from a confidential source supports claims of unfair market structure.
The case could shape how courts view accountability in crypto platforms.

The lawsuit covers individuals who purchased tokens launched on Pump.fun from March 2024 onward and experienced financial losses. While Pump.fun and Solana sought to dismiss the motion on legal grounds, the court denied their request, allowing plaintiffs additional time to include new evidence reportedly obtained from a confidential informant.

Pumpdotfun &amр; Solana lawsuit update:

Leave to amend (file new complaint) GRANTED

“What appeared to be a fair, automated marketplace was, Plaintiffs say, structurally tilted to extract value from ordinary users while rewarding those with privileged access to Solana's… pic.twitter.com/mctvXdWScM
— Burwick Law (@BurwickLaw) December 15, 2025

Recent court documents indicate that the plaintiffs have been permitted to file an amended complaint, with allegations spanning violations of the Securities Act, RICO violations, and claims of unjust enrichment. “What appeared to be a fair, automated marketplace was, Plaintiffs say, structurally tilted to extract value from ordinary users while rewarding those with privileged access to Solana’s infrastructure and Jito Lab’s transaction ordering tools,” the lawsuit claimed.

Furthermore, the plaintiffs claim they obtained new information from a source who had previously gone missing but later reestablished contact, allegedly providing thousands of chat messages. After reviewing the material, the court found the proposed amendments adequate to move forward and either denied or deferred related defense motions.

The chat records are expected to be submitted as evidence and are said to reference individuals connected to Pump.fun, Solana Labs, Jito Labs, and other third parties. While the defendants argued the request should be rejected because a proposed amended complaint was nоt attached, the court disagreed and granted permission to file a second amended complaint. The plaintiffs also sought adjustments to the case schedule to allow time to review the new material and integrate it into the forthcoming filing.

As the case advances into its next phase, the ruling spotlights how emerging crypto platforms are increasingly being tested within traditional legal frameworks. The outcome may help clarify how courts approach accountability, disclosure, and oversight in rapidly evolving blockchain ecosystems, with potential ripple effects for developers, investors, and regulators watching closely as the litigation continues.

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Frequently Asked Questions

The judge allowed plaintiffs to file a second amended complaint after reviewing new evidence, letting the class action move forward rather than being dismissed.

The case covers individuals who bought tokens launched on Pump.fun from March 2024 onward and say they suffered financial losses.

The claims include alleged violations of securities laws, RICO statutes, and unjust enrichment tied to how the platform and related infrastructure allegedly operated.

MICHAELA

Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is the official publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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