According to TheBlock, cryptocurrency exchange Coinbase has been hit by a shareholder class action lawsuit over its recent share price decline. The lawsuit alleges that the exchange failed to disclose a user data breach earlier this month in a timely manner and violated an agreement with UK regulators.
Last Thursday, investor Brady Nessler filed a class action lawsuit in the U.S. District Court for the Eastern District of Pennsylvania, alleging that Coinbase shareholders suffered significant losses and damages. The lawsuit lists a long list of alleged disclosure omissions by the company over the past few years. For example, the lawsuit alleges that Coinbase's failure to truthfully disclose its U.K. subsidiary CBPayments violated a 2020 agreement with the U.K. Financial Conduct Authority (FCA).
Coinbase is being sued as a class action for falling stock price, accused of omission of information
2025-05-26 06:53:11
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