NEW ORLEANS, Sept. 27, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, is reminding investors they have until October 25, 2022 Lead Plaintiff’s Motions in a Securities Class Action Against Coupang, Inc. CPNGif they purchased or acquired the Company’s shares pursuant to and/or traceable back to the Company’s March 2021 IPO (the “IPO”). This lawsuit is pending in the United States District Court for the Southern District of New York.

get help

Coupang investors should visit us at https://claimsfiler.com/cases/nyse-cpng/ or call toll free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.

About the lawsuit

Coupang and certain of its executives are accused of failing to disclose material information in its IPO registration statement in violation of federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company engaged in improper anti-competitive practices with its suppliers and other third parties in violation of applicable regulations; (ii) the Company had misaligned search algorithms and manipulated product reviews on its marketplace platform to prioritize its own private label products over those of other sellers and retailers to the detriment of consumers, retailers and suppliers; (iii) without the knowledge of its Rocket WOW members, Coupang sold products to non-member customers at lower prices than those offered to its Rocket WOW members; (iv) the Company has subjected its workforce to extreme, unsafe and unhealthy working conditions; (v) all of the above unlawful practices would expose the Company to an increased, but undisclosed, risk of reputational and regulatory scrutiny that would affect the Company’s critical relationships with consumers, vendors, suppliers and employees; and (vi) the Company’s lower prices, historical revenues, competitive advantages and…