NEW YORK, Aug. 22, 2024 /PRNewswire/ --
Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Coinbase Global, Inc. (NASDAQ: COIN) resulting from allegations that Coinbase may have issued materially misleading business information to the investing public.
So What: If you purchased Coinbase securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=28116 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
What is this about: On July 25, 2024, the Financial Conduct Authority ("FCA"), a U.K. financial regulator, announced that it had fined CB Payments Limited ("CBPL"), which is affiliated with Coinbase, for "repeatedly breaching a requirement that prevented the firm from offering services to high-risk customers." The FCA noted that "[t]he breaches were the result of CBPL's lack of due skill, care and diligence in the design, testing, implementation and monitoring of the controls put in place" to prevent such violations.
On the same day, Reuters released an article entitled "Coinbase UK unit fined for breaching financial crime requirements." This article stated that "[a] Coinbase business in Britain has been fined for breaching a regulatory agreement to improve its [defenses] against financial crime, in the first sanction of its kind in the UK cryptoassets sector."
On this news, Coinbase's stock price fell 5.5% on July 25, 2024.
Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com
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