The Pump.fun class action lawsuit is allowed to submit new evidence of MEV trading behavior

The U.S. court has been asked again to weigh in on the practice of Maximum Extractable Value (MEV). A judge has approved a motion to allow the amendment and resubmission of new evidence related to MEV trading practices in the class action lawsuit against Pump.fun, Jito Labs, and the Solana Foundation.

The plaintiffs allege that Pump.fun uses MEV technology to allow insiders to acquire new tokens at a low price, which are then sold to retail participants after being pumped up, with retail participants serving as exit liquidity for the insiders. Solana Labs, Jito Labs, and others are mentioned in the allegations as having facilitated this.