THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Coinbase securities during the Class Period to seek appointment as lead plaintiff. ![]() On this news, the price of Coinbase Class A common stock fell by an additional 21%, further damaging investors. Then, on July 25, 2022, Bloomberg reported that Coinbase is facing an SEC probe into whether it improperly let Americans trade digital assets that should have been registered as securities. On May 10, 2022, Coinbase disclosed that: "Because custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy, the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings and such customers could be treated as our general unsecured creditors." Following this disclosure, the price of Coinbase Class A common stock fell by more than 26%. Securities and Exchange Commission ("SEC") and (iii) the foregoing conduct subjected Coinbase to a heightened risk of regulatory and governmental scrutiny and enforcement action. ![]() ĬASE ALLEGATIONS: The Coinbase class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Coinbase custodially held crypto assets on behalf of its customers, which assets Coinbase knew or recklessly disregarded could qualify as the property of a bankruptcy estate, making those assets potentially subject to bankruptcy proceedings in which Coinbase's customers would be treated as Coinbase's general unsecured creditors (ii) Coinbase allowed Americans to trade digital assets that Coinbase knew or recklessly disregarded should have been registered as securities with the U.S. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at. If you suffered substantial losses and wish to serve as lead plaintiff, please provide your information here:
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