NEW YORK, August 22, 2021 (GLOBE NEWSWIRE) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Coinbase Global, Inc (“Coinbase” or the “Company”) ( NASDAQ: COIN) and reminds investors of the September 20, 2021 deadline to apply for the role of lead plaintiff in a federal securities class action lawsuit that has been filed against the Company.
If you have incurred losses greater than $ 50,000 while investing in Coinbase stocks or options in accordance with and / or traceable to the registration statement and prospectus issued as part of the Company’s initial public offering on April 14 2021 (the “IPO”) and want to discuss your legal rights, call partner Faruqi & Faruqi Josh Wilson directly To 877-247-4292 Where 212-983-9330 (ext. 1310). You can also click here for more information: www.faruqilaw.com/COIN.
There is no cost or obligation for you.
Faruqi & Faruqi is a leading national minority and women-owned securities law firm, with offices in New York, Delaware, Pennsylvania, California and Georgia.
As detailed below, the lawsuit focuses on whether the Company and its officers violated federal securities laws by making false and / or misleading statements and / or failing to disclose that at the time. of the offer: (1) the Company needed a significant injection of liquidity; (2) the Company’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, the Defendants’ positive statements regarding the business, operations and prospects of the Company were substantially misleading and / or lacked reasonable basis.
Just a month after the IPO, Coinbase’s high-flying promise came to a screeching halt as Coinbase recognized the need to raise capital and revealed performance issues that prevented users from trading crypto. currencies. On May 17, 2021, Coinbase announced its intention to raise approximately $ 1.25 billion through a convertible bond sale (the “Bond Offering”). Then, on May 19, 2021, Coinbase revealed technical issues, including “delays.” . . due to network congestion ‘affecting those who want to withdraw their money.
Following this news, the Company’s share price fell $ 23.44 per share, or nearly 10% over two consecutive trading sessions, to close at $ 224.80 per share on May 19, 2021. thus hurting investors.
The principal plaintiff appointed by the court is the investor with the greatest financial interest in the remedy sought by the group, who is adequate and typical of the members of the group who are directing and supervising the litigation on behalf of the putative group. Any putative class member can propose to the court to serve as lead plaintiff through any lawyer they choose, or they can choose to do nothing and remain an absent member of the class. Your ability to participate in any recovery is not affected by the decision whether or not to serve as the principal applicant.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Coinbase’s conduct to contact the company, including whistleblowers, former employees, shareholders, and others.
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