Law Firms Demand Cease-and-Desist Order Against Solana-Based Meme Coin Platform PumpFun
Two law firms, Burwick Law and Wolf Popper LLP, have issued a cease-and-desist letter to the Solana-based meme coin creation platform PumpFun, demanding the immediate removal of the Dogshit2 token and other related coins deployed on the Solana blockchain that utilize unlicensed intellectual property from their firms.
Unlicensed Intellectual Property and Impersonation
The law firms claim that PumpFun has falsely associated its tokens with their brands and likenesses in a clear effort to impersonate their organizations and employees.
Dogshit2 Token Sparks Legal Action
In an official statement, both Burwick Law and Wolf Popper LLP have categorically denied any involvement with the Dogshit2 token or any similar blockchain-based assets.
“Our firms have no affiliation, endorsement, or ownership interest in the Dogshit2 token or any related assets. Simply put, our firms have not launched any memecoins on-chain. Any further unauthorized use of our firms’ names, intellectual property, or association with this token may result in immediate legal action.”
Burwick Law stated that despite having the technical capability to remove the fraudulent tokens, PumpFun has failed to take action, exposing itself and the public to significant financial and legal risks.
Broad Effort to Intimidate Clients and Disrupt Ongoing Litigation
The firms further revealed that PumpFun’s actions appear to be part of a broader effort by third parties to intimidate clients and disrupt ongoing litigation. This includes the deployment of additional tokens designed to impersonate plaintiffs involved in current legal proceedings.
The firms stated that the tokens misuse blockchain technology by turning it into a tool to block justice. They confirmed that legal action will be taken to address this misconduct.
Warning to Investors
Burwick Law and Wolf Popper LLP have urged investors to exercise extreme caution, warning that Dogshit2 is being aggressively promoted in what appears to be a high-risk pump-and-dump scheme.
PumpFun’s Legal Issues
The two firms filed a class-action lawsuit on January 30, claiming that Pump.fun issued unregistered securities and earned $500 million in fees. The lawsuit alleges that Pump.fun, run by UK-based Baton Corporation, used aggressive marketing tactics to promote volatile tokens, causing investors substantial losses. It seeks damages, refunds, and litigation costs.
Previous Legal Action
Earlier, on January 15, Burwick Law initiated a class-action suit for Kendall Carnahan against Baton Corporation, alleging the sale of unregistered securities. The lawsuit highlighted the PNUT token, a Solana memecoin linked to Peanut the Squirrel, which reportedly hit a $1 billion market cap.
Conclusion
The cease-and-desist order issued by Burwick Law and Wolf Popper LLP serves as a warning to PumpFun and other entities that utilize unlicensed intellectual property. The law firms are determined to protect their rights and those of their clients from fraudulent and misleading activities. Investors are advised to exercise extreme caution when dealing with high-risk assets and to be aware of the potential consequences of such investments.
FAQs
Q: What is the Dogshit2 token?
A: The Dogshit2 token is a Solana-based meme coin created by PumpFun, which has been accused of utilizing unlicensed intellectual property from Burwick Law and Wolf Popper LLP.
Q: What is the purpose of the cease-and-desist order?
A: The cease-and-desist order demands the immediate removal of the Dogshit2 token and other related coins deployed on the Solana blockchain that utilize unlicensed intellectual property from Burwick Law and Wolf Popper LLP.
Q: What are the consequences of failing to comply with the cease-and-desist order?
A: Failure to comply with the cease-and-desist order may result in legal action, including litigation, and could expose PumpFun and other entities to significant financial and legal risks.
Q: What is the current status of the class-action lawsuits against PumpFun?
A: The class-action lawsuits against PumpFun are ongoing, with Burwick Law and Wolf Popper LLP seeking damages, refunds, and litigation costs.
Q: What is the background of the law firms involved?
A: Burwick Law and Wolf Popper LLP are experienced law firms with a track record of success in complex litigation and intellectual property disputes.
