New York Court Dismisses Securities Claims Against Pump.fun, Lets RICO Case Proceed
- —Securities Act counts dismissed with prejudice for two tokens on the common-enterprise element
- —RICO claims proceed against Baton Corporation and co-founders Cohen, Tweedale and Kerler
- —Solana Labs, Solana Foundation and five named executives dismissed from all counts
- —Only wire fraud and unlicensed money transmission survived of four pleaded RICO predicates
Why it matters: The ruling narrows Howey's reach for memecoins without granting immunity, leaving the securities question to district courts until at least 2027.
Source: Coinpaprika News