Pump.fun Class Action Lawsuit Allowed to Submit New Evidence on MEV Transaction Behavior

BlockBeats News, December 19th, a U.S. court has once again been asked to consider the practice of Maximum Extractable Value (MEV). The judge approved a motion allowing for the amendment and resubmission of new evidence regarding MEV transaction behavior in the collective lawsuit against Pump.fun, Jito Labs, and the Solana Foundation. The plaintiff accuses Pump.fun of using MEV technology to allow insiders to front-run new token launches at a low price, subsequently pumping up the price and then selling to retail participants, with the retail participants being used as exit liquidity for the insiders. Solana Labs, Jito Labs, and others are accused of facilitating this behavior.