Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed against Coinbase Global, Inc.
NEW YORK, July 23, 2021 / PRNewswire / – Bernstein Liebhard, a Nationally Renowned Investor Rights Law Firm, Announces Securities Class Action Litigation on Behalf of Investors Who Have Purchased or Acquired the Securities of Coinbase Global Inc. (“Coinbase” or the “Company”) (NASDAQ: COIN) of April 11, 2021 by July 22, 2021 (the “Recourse Period”). The lawsuit filed in United States District Court of the North District of California alleges violations of the Securities Act of 1933.
If you purchased Coinbase securities and / or wish to discuss your legal rights and options please visit Coinbase Shareholder Class Action or contact Rujul Patel toll free at (877) 779-1414 or [email protected]
The complaint alleges that the registration statement and prospectus used to make the Company’s Offer were false and misleading and failed to indicate that at the time of the Offer: (1) Coinbase required a significant cash injection; (2) Coinbase’s platform was sensitive to service level disruptions, which were increasingly likely to occur as the Company adapted its services to a larger user base; and (3) as a result of the foregoing, positive statements regarding the business, operations and prospects of the Company were misleading and / or lacked reasonable basis.
On May 17, 2021, Coinbase undermined its claims in the offering documents that the Company’s existing cash and cash equivalents were sufficient by announcing plans to raise capital through a convertible bond sale. On May 19, 2021, Coinbase revealed technical issues that users face on its platform, including “delays … due to network congestion” affecting “those who want to withdraw their money.”
On this news, Coinbase’s share price fell $ 23.44 per share, nearly 10% over two consecutive trading sessions, to close at $ 224.80 per share on May 19, 2021, thus harming investors.
If you wish to act as the principal applicant, you must apply to the Court at the latest September 20, 2021. A principal plaintiff is a representative party acting on behalf of the other members of the class to direct the litigation. Your ability to participate in any recovery does not require you to serve as the principal applicant. If you choose not to take any action, you can remain an absent group member.
If you purchased Coinbase securities and / or wish to discuss your legal rights and options please visit https://www.bernlieb.com/cases/coinbaseglobalinc-coin-shareholder-class-action-lawsuit-fraud-stock-419/apply/ or contact Rujul Patel toll free at (877) 779-1414 or [email protected]
Since 1993, Bernstein Liebhard LLP has collected more than $ 3.5 billion for its customers. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and take legal action on their behalf. Due to its success in litigating hundreds of lawsuits and class actions, the firm has been named thirteen times on the National Law Journal’s Plaintiff List and listed in The Legal 500 for ten consecutive years.
LAWYER ADVERTISING. © 2021 Bernstein Liebhard LLP. The law firm responsible for this announcement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this announcement in the State of Connecticut is Michael S. Bigin. Past results do not guarantee or predict a similar result with respect to any future matter.
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SOURCE Bernstein Liebhard LLP