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

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.

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.” 

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.

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