COINBASE GLOBAL, INC. (NASDAQ:COIN) SHAREHOLDER CLASS
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NEW YORK, Sept. 27, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP, a nationally recognized investor rights law firm, is reminding investors of the deadline for filing a motion by lead plaintiff in a securities class action lawsuit filed on behalf of investors, who have between purchased or acquired the securities of Coinbase Global, Inc. (“Coinbase” or the “Company”) (NASDAQ: COIN). April 14, 2021 and July 26, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the District of New Jersey alleging violations of the Securities Exchange Act of 1934.
Coinbase provides financial infrastructure and technology products and services for the cryptocurrency economy (or “cryptoeconomy”) in the United States and internationally. The company reportedly provides the primary financial account in the crypto economy for retailers, a marketplace with a liquidity pool for institutional crypto asset transactions, and technologies and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.
Plaintiff alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, Defendants have failed to disclose that: (i) Coinbase held crypto assets in custody on behalf of its customers, which assets that Coinbase knew about or carelessly ignored could be considered property of a bankruptcy estate, potentially making those assets subject to a bankruptcy estate bankruptcy proceedings, in which Coinbase’s customers would be treated as general unsecured creditors of the company; (ii) Coinbase allowed Americans to trade digital assets that Coinbase knew or…
Continue to read on GlobeNewswire https://www.globenewswire.com/news-release/2022/09/27/2522945/0/en/COINBASE-GLOBAL-INC-NASDAQ-COIN-SHAREHOLDER-CLASS-ACTION-ALERT-Bernstein-Liebhard-LLP-Reminds-Investors-of-the-Deadline-to-File-a-Lead-Plaintiff-Motion-in-a-Securities-Class-Action.html