Coinbase Global Inc. Class A Common Stock (NASDAQ: COIN)
46 Days left to seek lead plaintiff status.
According to the Complaint, Defendants made false and/or misleading statements and/or failed to disclose that: (1) In 2020, after investigation, the United Kingdom’s FCA had deemed efforts by the Company’s British unit, the CBPL, to prevent criminals from using its platform, to be inadequate; (2) as a result, the FCA reached an agreement with CBPL, which put requirements in place that were designed to prevent high risk customers from using CBPL’s platform; (3) CBPL then breached that agreement, which resulted in 13,416 high risk individuals receiving services; (4) the foregoing resulted in an undisclosed heightened regulatory risk; (5) Coinbase had been hacked and its accounts compromised; (6) the SEC was investigating Coinbase for its account problems; and (7) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.