🌀 Another class action lawsuit has been filed against Coinbase — this time by investor Brady Nessler, who claims that a data breach and violation of an agreement with the UK FCA led to shareholder losses.
🔽 On May 15, COIN shares fell by 7.2%, to $244.
🔼 On May 16, they recovered to $266, but on May 23, they fell again by 3%, to $263.
⚠️ What is known:
🔵 Coinbase acknowledged that its support staff were bribed by criminals.
🔵 The company's compensation bill could reach $400 million.
🔵 The UK regulator previously fined Coinbase UK $4.5 million for dealing with 13,416 'high-risk clients'.
🔺 A lawsuit has been filed on behalf of all those who owned shares of Coinbase from April 14, 2021, to May 14, 2025. A jury trial and damages are being sought. Among the defendants are CEO Brian Armstrong and CFO Alessia Haas.
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