Traders who sued pump.fun for losses are still using the platform

Odaily News In the lawsuit filed recently against pump.fun by law firm Burwick Law, its lead plaintiff was proven to have lost $231 while trading PNUT. However, tracking the trader's address showed that he lost a total of $49,535 in other trades on pump.fun, indicating that he was still using the site after the lawsuit was filed.
pump.fun is understood to be led by 21-year-old CEO Noah Bernhard Hugo Tweedale, who co-founded the platform with 21-year-old CTO Dylan Kerler and 23-year-old pseudonymous COO Alon Cohen. The lawsuit names the three as defendants, along with pump.fun's operator, Baton Corporation.
According to online documents, Baton Corporation was established in March 2023 and its offices are located in a business park in the town of Bury St Edmunds.
The lawsuit was filed on behalf of a group of PNUT purchasers, but despite that, the investor leading the litigation, Kendall Carnahan, is the only named plaintiff in the case.
The lawsuit also alleges that pump.fun sold and offered PNUT as an unregistered security, but emphasizes that it does not allege that Baton Corporation had fraudulent intent, while seeking a jury trial and a monetary award to the plaintiff that will be determined at trial. (Protos)