Pomerantz LLP Investigates Claims on Behalf of Investors of Coinbase Global, Inc. (NASDAQ: COIN)

NEW YORK, Aug. 1, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Coinbase Global, Inc. ("Coinbase" or the "Company") (NASDAQ: COIN).

NEW YORK, Aug. 1, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Coinbase Global, Inc. ("Coinbase" or the "Company") (NASDAQ: COIN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Coinbase and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

The Complaint alleges, inter alia, that throughout the Class Period, Defendants made materially false and misleading statements regarding Coinbase's ability to comply with applicable legal and regulatory requirements. Specifically, Defendants failed to disclose to investors that Coinbase's U.K. unit, CB Payments Limited ("CBPL"), had violated a key provision designed to prevent the Company from offering services to high-risk customers.

On July 25, 2024, the Financial Conduct Authority ("FCA"), a U.K. financial regulator, announced that it had fined CBPL approximately $4.5 million for the上述违规行为。FCA noted that the "breaches were the result of CBPL's lack of due skill, care and diligence in the design, testing, implementation and monitoring of the controls put in place" to prevent such violations.

On this news, Coinbase's stock price fell $13.54 per share, or 5.53%, to close at $231.52 per share on July 25, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:Danielle PeytonPomerantz LLP[email protected]646-581-9980 ext. 7980

SOURCE Pomerantz LLP

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