U.S. Court Allows New Evidence in Pump.fun MEV Class-Action Lawsuit
A U.S. District Court in the Southern District of New York has permitted new evidence to be added to the ongoing Pump.fun MEV-related class-action lawsuit following a whistleblower's provision of nearly 5,000 internal chat messages.
On December 9, 2025, Judge Colleen McMahon granted the plaintiffs' request to amend and refile their complaint against Pump.fun, Jito Labs, the Solana Foundation, Solana Labs, and related executives. The second amended complaint is due by December 19, 2025, with motions to dismiss expected by January 23, 2026.
The plaintiffs allege a coordinated "Pump Enterprise" that provided insiders preferential access to newly launched tokens while promoting these launches to the public as fair. The complaint contends that Solana Labs’ validator infrastructure enabled transaction-ordering control, and that Jito Labs’ tools allowed insiders to pay for priority execution. Pump.fun allegedly launched tokens, collected fees on every trade, and promoted a narrative of fair launch.
According to the allegations, insiders bought tokens at low prices before public trading began, which triggered rapid price increases via automated bonding curves. Retail buyers were then left to absorb losses once the insiders exited their positions.
This case builds on previous litigation filed in July accusing Pump.fun of operating an illegal "meme coin casino" that reportedly generated approximately $722 million in revenue while causing retail investor losses estimated between $4 billion and $5.5 billion.
The case is situated within the broader context of MEV (Maximal Extractable Value) extraction, which involves bots consuming substantial blockspace on blockchain networks like Solana and Ethereum, contributing to higher fees and uneven transaction execution for ordinary users.
A related criminal case involved two MIT-educated brothers, Anton and James Peraire-Bueno, who were charged with wire fraud and money laundering for exploiting Ethereum’s validator layer to extract about $25 million. That case previously ended in a mistrial.
