Coinbase Global, Inc .: Investors Last Days To Participate
Investors with losses of $ 1,000,000 are encouraged to contact the company before September 20, 2021; Click on here submit business information
LOS ANGELES, Aug 11, 2021 (GLOBE NEWSWIRE) – The Portnoy law firm informs investors that a class action lawsuit has been filed on behalf of Coinbase Global, Inc. (NASDAQ: COIN) investors who acquired shares between April 11, 2021 and July 22, 2021. Investors have until September 20 2021 to seek an active role in this litigation.
Investors are encouraged to contact a lawyer Lesley F. Portnoy, to determine eligibility to participate in this action, by phone at 310-692-8883 or E-mail, or Click here join the case.
It is alleged in this complaint that the registration statement and prospectus that were used to make the Coinbase offer were misleading and false and failed to state that at the time of the offer: (1) Coinbase required a significant injection of liquidity; (2) Coinbase was sensitive to service level disruptions, which were increasingly likely to occur as Coinbase expanded its services to a larger user base; and (3) positive statements about Coinbase’s business, operations and outlook lacked a reasonable basis and / or were materially misleading.
Coinbase undermined its claims in offering documents released on May 17, 2021 that Coinbase’s existing cash and cash equivalents were sufficient, by announcing its intention to raise capital in the form of a bond sale. convertible. Coinbase revealed on May 19, 2021, technical issues that users were experiencing on its platform, including “delays … due to network congestion” affecting “those who want to withdraw their money.”
On May 19, 2021, the price of Coinbase shares fell $ 23.44 per share, or nearly 10% in two consecutive trading sessions, on this news, to close at $ 224.80 per share, hurting investors. .
A class action has already been filed. If you wish to act as the principal applicant, you must apply to the Court no later than September 20, 2021.
Please visit our website to view more information and submit your transaction information.
The Portnoy law firm represents investors in the pursuit of claims arising from corporate wrongdoing. The company’s founding partner has recovered more than $ 5.5 billion for aggrieved investors. Lawyer advertising. Past results do not guarantee similar results.
Lesley F. Portnoy, Esq.
CA and NY bar admitted