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Burwick Law has initiated a class-action lawsuit against KIP, Meteora, and Kelsier, alleging deceptive practices tied to the LIBRA token launch.
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The lawsuit contends that these entities manipulated LIBRA’s price, resulting in significant financial losses for retail investors.
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Kelsier Ventures’ CEO, Hayden Davis, is currently facing an arrest warrant, intensifying the scrutiny surrounding LIBRA’s rollout.
This article explores the recent class-action lawsuit against key players involved in the LIBRA token launch, highlighting serious allegations of price manipulation.
A LIBRA Lawsuit in New York
In a bold legal maneuver, Burwick Law has positioned itself as a leading force against alleged scams in the meme coin space. The firm previously pursued similar legal actions against promotor entities associated with the Hawk Tuah and Pump.fun projects, establishing a pattern of holding meme coin projects accountable.
Most recently, on March 15, 2025, Burwick filed a class-action lawsuit focusing on the LIBRA meme coin. The firm raised concerns about the legitimacy of the launch, stating, “Tonight, our firm filed a class action complaint in the Supreme Court of New York alleging misconduct by Kelsier, KIP, Meteora, and other involved parties.”
Burwick’s allegations assert that the LIBRA launch devolved into a significant financial crisis. The lawsuit is intertwined with ongoing investigations into the practices surrounding the launch, as several key players are under scrutiny for potential criminal activities.
In their complaint, Burwick Law describes the alleged deceptive tactics used during the LIBRA launch, highlighting claims of a pump-and-dump scheme that adversely affected retail investors.