NEW YORK, Sept. 09, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Coupang, Inc. (“Coupang” or the “Company”) (NASDAQ: CPNG). Such investors are advised to contact Robert S. Willoughby ? Email: [email protected] Or call: 888-476-6529 ext. 7980.

The investigation concerns whether Coupang and some of its officers and/or directors engaged in securities fraud or other illegal business practices.

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On or about March 11, 2021, Coupang completed an initial public offering (“IPO”), selling 100 million Class A common shares at a price of $35.00 per share. Following the IPO, investors learned through a series of disclosures that contrary to what was stated in the IPO prospectus: (i) Coupang had violated relevant regulations and engaged in various unfair anti-competitive practices with its suppliers and other third parties; (ii) Coupang improperly adjusts its search algorithms and manipulates product reviews on its marketplace platform in order to favor its own branded products over other sellers and merchants, to the detriment of consumers, merchants and suppliers; (iii) on Rocket, without the knowledge of WOW Members, Coupang sells products to non-member customers at lower prices than Rocket WOW Members; (iv) Coupang exposes its employees to extremely overworked, unsafe and unhealthy working conditions; (v) all of the above illegal conduct exposes the Company to major, but undisclosed, reputational and regulatory audit risks that will damage the Company’s vital relationships with customers, vendors, suppliers and employees; and (vi) Coupang’s low prices, historical revenues, competitive dominance and growing market share are the result of systemic, improper, unethical and/or illegal behavior and are therefore unsustainable. Investors have suffered as Coupang’s share price has fallen sharply since its IPO.

With offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, Pomerantz LLP is a premier class action law firm specializing in corporate, securities and antitrust law. Pomerantz was founded by the late President of the Collective Firm, Abraham L. Pomerantz…