Pump.fun Class Action Lawsuit Expands With Consolidated Amended Complaint Adding RICO Allegations And New Defendants

Wolf Popper LLP and Burwick Law filed a consolidated amended complaint in their class action litigation against Pump.fun, substantially expanding the scope of the case to include racketeering charges and additional defendants from the Solana ecosystem.  The amended complaint, filed on July 22, 2025 in the United States District Court for the Southern District of New York, consolidates the previously separate PNUT token case (Carnahan v. Baton Corporation Ltd. D/B/A Pump.Fun et al., No. 1:25-cv-00490) with the broader meme coin class action (Aguilar v. Baton Corporation Ltd. d/b/a Pump.Fun et al., No. 1:25-cv-00880).
 
On June 25, 2025, Judge Colleen McMahon ordered the consolidation of the two related cases, determining that both lawsuits sought the same relief for the same alleged violations.  The consolidated case now proceeds under the lead case Aguilar v. Baton Corporation Ltd. d/b/a Pump.Fun et al., No. 1:25-cv-00880, with Michael Okafor appointed as lead plaintiff.
 
The consolidated amended complaint escalates the legal claims by adding claims for violation of the Racketeer Influenced and Corrupt Organizations Act ("RICO"), violation of New York General Business Law §§ 349 and 350, and unjust enrichment.  The plaintiffs characterize Pump.fun's operations as part of a coordinated racketeering enterprise designed to simulate an "illegal digital casino" disguised as meme coin creation and trading.
 
The consolidated amended complaint significantly expands the list of defendants beyond the original Pump.fun operators to include major players in the Solana blockchain ecosystem.  New defendants include: Solana Labs, Inc. and its co-founders Anatoly Yakovenko (CEO) and Raj Gokal (COO), the Solana Foundation and its executives Dan Albert (Executive Director), Lily Liu (President), and Austin Federa (former Communications Director), Jito Labs and its leadership Lucas Bruder (CEO) and Brian Smith (COO), and the Jito Foundation.
 
The plaintiffs seek class certification, compensatory damages, treble damages under RICO violations, rescission of all Pump.fun token transactions, appointment of a federal equity receiver, and permanent injunctions preventing defendants from operating similar platforms without required licenses and compliance controls. 
 
The two cases are consolidated under 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.