NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 20, 2021 to file lead plaintiff applications in a securities class action lawsuit against Coinbase Global Inc. (NasdaqGS: COIN), if they purchased the Company’s shares issued in connection with its April 2021 Direct Offering (the "Offering"). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of Coinbase as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-coin/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 20, 2021.
About the Lawsuit
Coinbase and certain of its executives are charged with failing to disclose material information in its Registration Statement and Prospectus, violating federal securities laws.
On May 17, 2021, a month after its Direct Offering, the Company disclosed plans to raise about $1.25 billion via a convertible bond sale. Then, on May 19, 2021, the Company disclosed technical issues with its platform causing “delays…due to network congestion” affecting its users.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company required a sizeable cash injection; (ii) the Company’s platform was susceptible to service-level disruptions, which were increasingly likely to occur as the Company scaled its services to a larger user base; and (iii) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.
The case is Ramsey v. Coinbase Global, Inc., et al, 3:21-cv-05634.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
