Glancy Prongay & Murray LLP Reminds Investors of Impending Deadline

LOS ANGELES, Oct. 4, 2022 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come October 25, 2022 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors who have purchased or otherwise acquired Coupang, Inc. (“Coupang” or the “Company”) CPNG Class A common stock pursuant to and/or traceable to the registration statement issued in connection with Coupang’s March 2021 initial public offering (“IPO”).

If you have suffered a loss on your Coupang investments or would like to inquire about potential claims to recover your loss under federal securities laws, you may submit your contact information at www.glancylaw.com/cases/coupang-inc/. You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at [email protected] to learn more about your rights.

In March 2021, Coupang completed its initial public offering (“IPO”), selling 100 million Class A common shares at $35 per share.

on 04/27/2021, United Press International reported on unsafe working conditions for Coupang’s delivery drivers and employees at Coupang’s fulfillment centers and explained that nine Coupang employees had died in the past year due to an inhumane working environment. The report also claimed the company had sued journalists who had written about the deaths of company employees.

Then, on June 17, 2021, a fire broke out at Coupang’s Logistic Fulfillment Center in Seoul, killing a firefighter who became trapped inside the building. Protesters claimed the fire was due to Coupang’s inhumane working conditions. The fire cost Coupang approximately $296 million in lost inventory, property, equipment, and other costs.

Then, on September 20, 2021, an official from the Korean Fair Trade Commission (“KFTC”) announced that Coupang was involved in, and would be regulated for, a manipulation of search algorithms that inappropriately compared its own products to those of…


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