Pump.fun, a memecoin generator, is facing another class action lawsuit alleging violations of U.S. securities laws and the unauthorized creation of securities. The suit claims that every token created using Pump.fun's platform is a security, although the regulatory status of tokens remains a matter of debate. The lead plaintiff accuses Pump.fun of facilitating the creation and sale of worthless digital tokens and names the U.K.-registered company Baton Corporation and three co-founders as defendants. The law firm behind the suit had previously filed another class action against Pump.fun and is also involved in other crypto-related lawsuits. Pump.fun has faced previous controversies, including regulatory warnings and a now-disabled livestream feature that allowed the promotion of tokens with explicit content. The lawsuit seeks damages and attorneys' fees.



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