The Coinbase class action lawsuit seeks to represent purchasers or acquirers of Coinbase Global, Inc. (NASDAQ: COIN) securities between April 14, 2021 and July 26, 2022, inclusive (the “Class Period”). The Coinbase class action lawsuit – captioned Patel v. Coinbase Global, Inc., No. 22-cv-04915 (D.N.J.) – charges Coinbase and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in Coinbase stock and wish to serve as lead plaintiff of the Coinbase class action lawsuit, please provide your information below. You can also contact Coinbase Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected]. Lead plaintiff motions for the Coinbase class action lawsuit must be filed with the court no later than October 3, 2022. If you suffered losses in Coinbase and have questions, please contact Coinbase Loss Lawyer Timothy L. Miles today.
Allegations in the Coinbase Class Action Lawsuit
The Coinbase class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Coinbase custodially held crypto assets on behalf of its customers, which assets Coinbase knew or recklessly disregarded could qualify as the property of a bankruptcy estate, making those assets potentially subject to bankruptcy proceedings in which Coinbase’s customers would be treated as Coinbase’s general unsecured creditors; (ii) Coinbase allowed Americans to trade digital assets that Coinbase knew or recklessly disregarded should have been registered as securities with the U.S. Securities and Exchange Commission (“SEC”); and (iii) the foregoing conduct subjected Coinbase to a heightened risk of regulatory and governmental scrutiny and enforcement action.
On May 10, 2022, Coinbase disclosed that: “Because custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy, the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings and such customers could be treated as our general unsecured creditors.” Following this disclosure, the price of Coinbase Class A common stock fell by more than 26%.
Then, on July 25, 2022, Bloomberg reported that Coinbase is facing an SEC probe into whether it improperly let Americans trade digital assets that should have been registered as securities. On this news, the price of Coinbase Class A common stock fell by an additional 21%, further damaging investors who suffered losses in Coinbase stock.
The Lead Plaintiff Process in the Coinbase Class Action Lawsuit
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Coinbase stock to seek appointment as lead plaintiff in the Coinbase class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Coinbase stock, and have further questions, contact Coinbase Stock Loss Lawyer Timothy L. Miles today.
How Can a Coinbase Stock Loss Lawyer Help Me?
A Coinbase Stock Loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation. A Coinbase Stock Loss Lawyer focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, if they have lost money due to mistakes, incompetence, or fraud by an investment professional. While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discovery every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct, such as a Coinbase Stock Loss Lawyer who will work to recover the losses you sustained through a Coinbase Class Action lawsuit.
Contact a Coinbase Stock Loss Lawyer if You Suffered Losses in Coinbase Stock
If you suffered losses in Coinbase stock, contact Coinbase stock loss lawyer Timothy L. Miles today about a Coinbase class action lawsuit, and see what a Coinbase Stock Loss Lawyer can do for you.
Timothy L. Miles, Esq.
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, and more.
Timothy L. Miles
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