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Cryptocurrency News Articles
Robbins Geller Rudman & Dowd LLP Announces that Purchasers or Acquirers of Coinbase Global, Inc. (NASDAQ: COIN) Publicly Traded Securities between April 14, 2021 and July 25, 2024 Have Until November 12, 2024 to Seek Appointm
Sep 25, 2024 at 04:04 am
The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Coinbase Global, Inc. (NASDAQ: COIN) publicly traded securities between April 14, 2021 and July 25, 2024, both dates inclusive (the “Class Period”), have until November 12, 2024 to seek appointment as lead plaintiff of the Coinbase class action lawsuit. Captioned Castle v. Coinbase Global, Inc., No. 24-cv-04850 (E.D. Pa.), the Coinbase class action lawsuit charges Coinbase as well as certain of Coinbase’s top executives with violations of the Securities Exchange Act of 1934.
Purchasers or acquirers of Coinbase Global, Inc. (NASDAQ: COIN) publicly traded securities between April 14, 2021 and July 25, 2024, both dates inclusive, are notified that a Coinbase class action lawsuit has been filed in the U.S. District Court for the Eastern District of Pennsylvania and that purchasers or acquirers of Coinbase stock have until November 12, 2024 to apply to be appointed lead plaintiff.
The Coinbase class action lawsuit, captioned Castle v. Coinbase Global, Inc., No. 24-cv-04850 (E.D. Pa.), is brought on behalf of a class consisting of all purchasers or acquirers of Coinbase Global, Inc. (NASDAQ: COIN) common stock during the Class Period.
The Coinbase class action lawsuit charges Coinbase, together with certain of Coinbase’s top executives, with violations of the Securities Exchange Act of 1934. The Coinbase class action lawsuit alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that:
(i) in 2020, after an investigation, the United Kingdom’s Financial Conduct Authority (“FCA”) had found efforts by Coinbase’s British unit, CB Payments Limited (“CBPL”), to prevent criminals from using its platform to be inadequate;
(ii) 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;
(iii) CBPL then breached that agreement, which resulted in 13,416 high risk individuals receiving services; and
(iv) all the above resulted in an undisclosed heightened regulatory risk.
The Coinbase class action lawsuit further alleges that on July 25, 2024, the FCA announced that “CB Payments Limited (CBPL) has been fined £3,503,546 by the Financial Conduct Authority (FCA) for repeatedly breaching a requirement that prevented the firm from offering services to high-risk customers.” On this news, the price of Coinbase stock fell more than 5%, according to the complaint.
Purchasers or acquirers of Coinbase Global, Inc. (NASDAQ: COIN) common stock during the Class Period who suffered substantial losses and wish to serve as lead plaintiff of the Coinbase class action lawsuit are encouraged to provide their information here:
https://www.rgrdlaw.com/cases-coinbase-global-inc-lawsuit-coin.html
Alternatively, you can contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com.
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