Pump.fun class action lawsuit allowed to submit new evidence on MEV trading activities

BlockBeats news, on December 19, a U.S. court was once again asked to weigh in on the practice of Maximum Extractable Value (MEV). The judge approved a motion allowing for the revision and resubmission of new evidence related to MEV trading behavior in the class action lawsuit against Pump.fun, Jito Labs, and the Solana Foundation. The plaintiffs allege that Pump.fun used MEV technology to allow insiders to obtain new tokens at low prices with priority, then pump the price and sell these tokens to retail participants, who were used as exit liquidity for the insiders. Solana Labs, Jito Labs, and others are accused of facilitating these actions.