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.
If you believe you have suffered damages from the purchase of the
PNUT token, please contact https://www.burwick.law/newclient.
Contact Instructions
- Phone: Chet B. Waldman – 212-451-9624
- Phone: Joshua W. Ruthizer – (212) 451-9668
- Phone: Matthew Insley-Pruitt – (212) 451-9621
- Phone: Terrence Zhang – 212-451-9663
- Email: Outreach@wolfpopper.com
- New Client SignUps: https://www.burwick.law/newclient