Coinbase faces a class action lawsuit over delayed disclosure of a Data Breach and UK regulatory violations
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Coinbase Global Inc. is facing a class action lawsuit for allegedly misleading investors by delaying the disclosure of a significant data breach and regulatory violations tied to its UK operations. The lawsuit, filed on May 22, seeks damages under US securities laws and names CEO Brian Armstrong and CFO Alesia Haas among the defendants.
Key Allegations:
Delayed disclosure of a major data breach involving insider misconduct Failure to disclose regulatory violations by Coinbase’s UK-based subsidiary, CB Payments Ltd. Artificial inflation of Coinbase’s stock value due to delayed disclosure Harm to investors resulting in stock price losses
The plaintiff is seeking a jury trial and Coinbase has not publicly responded to the lawsuit.
submitted by /u/CriticalCobraz
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