Kessler Topaz Meltzer & Check,

RADNOR, Pa., Sept. 10, 2022 (GLOBE NEWSWIRE) — The law firm Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is advising investors that two class action securities lawsuits have been filed in the United States District Court for the District of New Jersey and the United States District Court for the Southern District of New York v. Coinbase Global, Inc. (“Coinbase”) (NASDAQ: COIN). The actions accuse Coinbase of violations of federal securities laws, including omissions and fraudulent misrepresentations regarding the company’s business, operations and outlook. Due to Coinbase’s materially misleading statements and omissions to the public, Coinbase investors have suffered significant losses.

CLICK HERE To SUBMIT YOUR COINBASE LOSSES.

YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE INTO YOUR BROWSER: https://www.ktmc.com/new-cases/coinbase-global-inc-2022?utm_source=PR&utm_medium=link&utm_campaign=coinbase&mktm=r

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PRINCIPAL APPLICANT DEADLINE: OCTOBER 3, 2022

COURSE PERIOD: FROM APRIL 14, 2021 TO JULY 26, 2022

CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
Jonathan Naji, Esq. at (484) 270-1453 or by email at [email protected]

Kessler Topaz is one of the world’s foremost advocates for protecting the public from corporate fraud and other wrongdoing. Our securities fraud litigants are consistently individually recognized as leaders in the field and our firm is both feared and respected within the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the categories of shareholders we represent.

COINBASE’S ALLEGED MISCONDUCT
The lawsuits against Coinbase allege that the registration statement and other documents filed with the SEC in connection with the company’s public offering in April 2021 made false or misleading statements and/or failed to disclose that Coinbase insiders had sharply increased their holdings of Coinbase Class A common stock. and intended to sell Coinbase shares as early as April 14, 2021, the first day of public trading for Coinbase shares. Indeed, on April 14, 2021, multiple Coinbase insiders sold over seven million shares of Coinbase Class A common stock, including over 1.3 million shares at market open that day, receiving collectively over $2.7 billion in proceeds from these sales.

The lawsuits further allege that the defendants made false and/or misleading statements and/or failed to disclose that: (1) Coinbase held crypto assets in custody on behalf of its clients, which Coinbase knew or recklessly neglected to they could be considered the property of a bankrupt estate, making such assets potentially subject to bankruptcy proceedings in which Coinbase customers would be treated as general unsecured creditors of the Company; (2) Coinbase allowed Americans to trade digital assets that Coinbase knew or carelessly ignored should have been registered as securities with the SEC; (3) the foregoing conduct has subjected the Company to increased risk of regulatory and governmental scrutiny and enforcement action.

On May 10, 2022, Coinbase disclosed that: “Because crypto assets held in custody may be considered the property of bankruptcy estate, in the event of bankruptcy, the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings and those customers could be treated as our general unsecured creditors.” Following this disclosure, the price of Coinbase Class A common stock fell more than 26%.

Then, on July 25, 2022, Bloomberg reported that Coinbase was facing an SEC investigation into whether it was improperly letting Americans trade digital assets that should have been registered as securities. Following this news, the price of Coinbase’s Class A common stock fell another 21%, further hurting investors.

WHAT CAN I DO?
Coinbase investors can, no later than October 3, 2022, seek to be named as the lead class representative plaintiff through Kessler Topaz Meltzer & Check, LLP or another attorney, or may choose to do nothing and remain an absentee class member. Kessler Topaz Meltzer & Check, LLP encourages Coinbase investors who have suffered significant losses to contact the company directly for more information.

CLICK HERE TO REGISTER FOR THE CASE

WHO CAN BE A PRINCIPAL APPLICANT?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead applicant is usually the investor or small group of investors who have the greatest financial interest and who are also adequate and typical of the proposed category of investors. The lead plaintiff chooses an attorney to represent the lead plaintiff and the class and those attorneys, if approved by the court, are the lead or class attorneys. Your ability to participate in any collection is not affected by whether or not to serve as lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP is filing class actions in state and federal courts nationwide and around the world. The company has developed a worldwide reputation for excellence and has recovered billions of dollars for victims of fraud and other malpractice. All of our work is guided by a common goal: to protect investors, consumers, employees and others from fraud, abuse, corporate and fiduciary misconduct and negligence. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
[email protected]

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8c8d51be-e19f-4e14-8404-e4e88e1311c9.

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