SAN DIEGO, Sept. 13, 2024 (GLOBE NEWSWIRE) -- 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, 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 and certain of Coinbase’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Coinbase class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-coinbase-global-inc-lawsuit-coin.html
You can also 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.
CASE ALLEGATIONS: Coinbase provides financial infrastructure and technology for the crypto economy.
The Coinbase class action lawsuit alleges that defendants throughout the Class Period made 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 deemed 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 (4) 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.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Coinbase publicly traded securities during the Class Period to seek appointment as lead plaintiff in the Coinbase class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Coinbase class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Coinbase class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Coinbase class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
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Contact:
Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
info@rgrdlaw.com
