Class Action Reminders: Kessler Topaz Meltzer & Check, LLP is Coinbase Global Inc.Attention to Investors in Securities Fraud Proceedings Due Dates | State

Radnor, Pennsylvania, August 7, 2021 / PRNewswire / – Law firm Kessler Topaz Meltzer & Check, LLP has filed a securities fraud class action lawsuit on behalf of investors who purchased Coinbase Global Inc. (NASDAQ: COIN) (“Coinbase”) Will be notified . Coinbase acquired Class A common shares that may be tracked and / or compliant with registration notices and prospectuses (collectively, the “Offering Documents”) for the resale of up to 114,850,769 Class A common shares. Accordingly , Coinbase began trading as a public company in or around the listing. April 14, 2021 (“Offer”)..

According to the complaints, Coinbase has “strengthened the crypto economy” and has around 43 million retail users, 7,000 institutions and 115,000 in more than 100 countries with Bitcoin and other digital assets built using of blockchain technology. Provides a “trusted platform” for sending and receiving to and from our ecosystem partners.

on April 14, 2021, Coinbase submitted a prospectus on Form 424B4, which is part of the registration statement. Coinbase has registered for resale up to 114,850,769 Class A common shares by registered shareholders. According to the registration statement, the resale of Coinbase shares is not undertaken by any investment bank and registered shareholders choose whether or not to sell their shares. Any such sale is an interim transaction on NASDAQ, if applicable, and Coinbase is not expected to receive income from the sale of Class A common shares by registered shareholders. Therefore, Coinbase’s business will continue to be funded by cash flow from operating activities and net income from the sale of convertible preferred shares. December 31, 2020, Coinbase had cash and cash equivalents $ 1.1 billionExcluding limited liquidity and client custody funds.

The complaint alleged that a month later, Coinbase’s high-flying promise screamed and came to a halt as Coinbase recognized the need for funding and revealed performance issues that were hampering users’ ability to trade cryptocurrencies. . do. on May 17, 2021, Coinbase has announced its intention to raise approximately $ 1.25 billion Through the sale of convertible bonds. Next, May 19, 2021, Coinbase has discovered technical issues such as “delays due to network congestion …” affecting those who want to spend money.

In response to this news, the Coinbase share price fell $ 23.44 Nearly 10% per share, in two consecutive trading sessions $ 224.80 Per share May 19, 2021… At the time the complaint was filed, Coinbase shares were at least traded $ 208.00 Per share April 14, 2021 Opening price from $ 381.00 Per share.

The complaint alleges that the offer material was false and misleading and omitted the following statement at the time of the offer: (1) Coinbase required a significant cash injection. (2) Coinbase’s platform is sensitive to service level interruptions, and as Coinbase expands its services to a larger user base, service level interruptions are more likely to occur. (3) Due to the foregoing, the Respondent’s affirmative statement regarding Coinbase’s business, operations and outlook was significantly misleading and / or lacking reasonable grounds.

Coinbase Investors Later September 20, 2021We request that you be appointed as the principal representative of the Class Complainants through Kessler Topaz Meltzer & Check, LLP or any other attorney. Alternatively, you can leave class members away and do nothing. The head of the claimant is the representative party acting on behalf of all class members in the conduct of the proceedings. To be appointed as the lead plaintiff, the court must determine that the claims of one class member are typical of the claims of other class members and that the class members correctly represent the class. The possibility of sharing the recovery is not affected by the decision to act as the principal applicant.

Kessler Topaz Meltzer & Check, LLP, will pursue class actions in state and federal courts nationwide, including securities fraud, breach of fiduciary duty, and other violations of federal and state laws. Kessler Topaz Meltzer & Check, LLP, is the driving force behind corporate governance reform and has raised billions of dollars on behalf of institutional and individual investors. the United States of America And all over the world. The company represents investors, consumers and whistleblowers (private sector who report fraud against the government and share the clawback of the government dollar). The complaints in this proceeding were not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit: www.ktmc.com.

Kessler Topaz Meltzer & Check, LLP

(844) 887-9500 (toll free)

Source Kessler Topaz Meltzer & Check, LLP

Class Action Reminders: Kessler Topaz Meltzer & Check, LLP is Coinbase Global Inc.Attention to Investors in Securities Fraud Proceedings Due Dates | State

Source Link Class Action Reminders: Kessler Topaz Meltzer & Check, LLP is Coinbase Global Inc. Investor Attention in Securities Fraud Proceedings Due Dates | State


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