COIN CLASS ACTION ALERT: Kessler Topaz Meltzer & Check, LLP Reminds Coinbase Global, Inc. Shareholders of Securities Fraud Class Action Lawsuit

RADNOR, Pa .– (COMMERCIAL LINE) – Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) law firm informs investors that two class action actions in securities have been filed against Coinbase Global, Inc. (“Coinbase”) (NASDAQ: COIN). The shares accuse Coinbase of violations of federal securities laws, including omissions and misrepresentations relating to the company’s business, operations and potential customers. Following Coinbase’s materially misleading statements and omissions to the public, Coinbase investors suffered significant losses.

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TERM OF THE PRINCIPAL COMPLAINT: OCTOBER 3, 2022

LESSON PERIOD: FROM APRIL 14, 2021 TO JULY 26, 2022

CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:

Jonathan Naji, Esq. At (484) 270-1453 or by email at [email protected]

Kessler Topaz is one of the world’s leading advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud attorneys are regularly recognized as industry leaders individually and our firm is both feared and respected between defense and insurance. We are proud to have recovered billions of dollars for our clients and the shareholder classes we represent.

ASSUMED MISCONDUCT OF COINBASE

The lawsuits against Coinbase allege that the registration statement and other documents filed with the SEC in connection with the company’s public offering in April 2021 made false or misleading statements and / or did not disclose that Coinbase insiders had increased sharply held Coinbase’s Class A common stock holdings and intended to sell Coinbase shares as early as April 14, 2021, the first day of public trading of Coinbase shares. In fact, on April 14, 2021, several Coinbase insiders sold over seven million Coinbase Class A common shares, including over 1.3 million shares when the market opened that day, collectively receiving over 2.7 billion. dollars in proceeds from those sales.

The lawsuits further allege that the defendants made false and / or misleading statements and / or did not disclose that: (1) Coinbase held cryptocurrencies in custody on behalf of its customers, assets that Coinbase knew or recklessly ignored could qualify as the property of a bankruptcy assets, making those assets potentially subject to bankruptcy proceedings in which Coinbase’s customers would be treated as the Company’s general unsecured creditors; (2) Coinbase allowed Americans to trade digital assets that Coinbase carelessly knew or ignored should have been registered as securities with the SEC; (3) the above conduct exposed the Company to an increased risk of regulatory and governmental control and enforcement actions.

On May 10, 2022, Coinbase revealed that: “Since cryptocurrencies held in custody can be considered the property of a bankrupt estate, in the event of bankruptcy, the cryptocurrencies we hold in custody on behalf of our clients could be subject to bankruptcy proceedings and such clients could be treated as our general unsecured creditors. ” Following this disclosure, the price of Coinbase Class A common stock fell by more than 26%.

Then, on July 25, 2022, Bloomberg reported that Coinbase is facing an investigation by the SEC to see if it allows Americans to improperly trade digital assets that should have been registered as securities. In this news, the price of Coinbase Class A common stock fell an additional 21%, further hurting investors.

WHAT CAN I DO?

Coinbase investors can, no later than 3 October 2022, seek to be named as the Actor’s Lead Representative of the Class via Kessler Topaz Meltzer & Check, LLP or other advice, or he can choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Coinbase investors who have suffered significant losses to contact the company directly for more information.

CLICK HERE TO SUBSCRIBE TO THE CASE

WHO CAN BE A PRINCIPAL Plaintiff?

A principal actor is a representative party acting on behalf of all class members in the direction of the litigation. The main actor is usually the investor or the small group of investors who have the greatest financial interest and who are also suitable and typical of the proposed class of investors. The lead plaintiff selects the legal counsel to represent the lead plaintiff and the class, and these attorneys, if approved by the court, are legal or class counsel. Your ability to participate in any recovery is not affected by the decision whether or not to serve as the main plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP

Kessler Topaz Meltzer & Check, LLP pursues class action in state and federal courts across the country and around the world. The company has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is guided by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence on the part of companies and trustees. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, visit www.ktmc.com.

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