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News

Bragar Eagel & Squire, P.C. Reminds Coinbase Investors In The Lawsuit To Contact The Firm

October 3, 2022 - Around 2 mins mins to read
Bragar Eagel & Squire, P.C., an accredited U.S. shareholder rights law firm, reminded investors that class action lawsuits have been filed on behalf of Coinbase Global, Inc. shareholders. Shareholders have the right to petition the court as the main plaintiff until the deadlines below.
Bragar Eagel & Squire, P.C. Reminds Coinbase Investors In The Lawsuit To Contact The Firm

According to the press release, the Class Period will commence on April 14, 2021, to correspond with the Company’s maiden listing of common stock on the NASDAQ.

A letter from Brian Armstrong—the Company’s co-founder, Chief Executive Officer, and Chairman—was included in the Registration Statement and Prospectus submitted in conjunction with the Direct Listing, in which Armstrong emphasized the exchange’s dedication to retaining consumer confidence. The release stated:

Defendant Armstrong also emphasized the Company’s commitment to compliance, stating that “[f]rom the early days, [the company] decided to focus on compliance, reaching out to regulators proactively to be an educational resource, and pursuing licenses even before they were needed.”

Highlighting customers’ ability to rely on Coinbase as a crypto asset custodian in the Listing Documents, Defendants also noted Coinbase’s ability to “support over 90 crypto assets for trading or custody.” 

Bragar Eagel & Squire, P.C. Reminds Coinbase Investors In The Lawsuit To Contact The Firm

It further pointed out that Coinbase has continuously promoted its “strength” and denied insider trading in the Class Period.

“Throughout the Class Period, Defendants continued to tout Coinbase’s strength as a crypto custodian and commitment to regulatory compliance, in addition to denying that Coinbase engaged in any proprietary trading.”

Coinbase is currently in legal trouble when an ex-manager is accused of insider trading. With the current difficult environment will put downward pressure on the exchange, Wells Fargo set a price objective of $57 for its share.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.