SHAREHOLDER ALERT: Coinbase Global, Inc. (COIN) Officers and Directors Under Investigation for Possible False Statements and Illegal Conduct

SAN FRANCISCO, Oct. 12, 2022 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP is investigating potential derivative claims on behalf of shareholders of  Global, Inc. (NASDAQ: COIN) relating to possible false and misleading statements to investors and other alleged misconduct concerning the company's growth strategy, listing practices, potential bankruptcy exposure of customer assets, and an alleged proprietary trading scheme. 

Coinbase and certain of its directors and executive officers are currently subject to multiple class action securities lawsuits in the U.S. District Courts for the Northern District of California, the Southern District of New York, and the District of New Jersey alleging false and misleading statements and other possible misconduct concerning several independent issues. Plaintiffs in the Northern District of California allege that Coinbase misled investors about the company's growth strategy ahead of its April 2021 direct listing on Nasdaq. Plaintiffs in the Southern District of New York allege that Coinbase listed dozens of coins on its platform that constitute securities under federal law but failed to register as a securities exchange. Additionally, plaintiffs in the District of New Jersey allege that Coinbase misled investors about the potential bankruptcy exposure of customer assets and an alleged proprietary trading scheme whereby Coinbase allegedly traded coins on its own platform for profit.

Coinbase is also subject to at least two regulatory investigations by the U.S. Securities and Exchange Commission and the New York Department of Financial Services. According to the company, the SEC is investigating certain of Coinbase's customer programs, operations, and existing and intended future products, including its processes for listing assets, the classification of certain listed assets, its staking programs, and its stablecoin and yield-generating products. NYDFS is investigating the company's subsidiary, Coinbase, Inc., relating to its compliance program including its compliance with the Bank Secrecy Act and sanctions laws, cybersecurity, and customer support.

The Schubert Firm is investigating potential breaches of fiduciary duty by Coinbase's officers and directors in connection with these allegations.

If you own stock in Coinbase and wish to obtain additional information about your legal rights, please contact us today or visit our website at https://www.classactionlawyers.com/coinbase.

About Schubert Jonckheer & Kolbe LLP

Schubert Jonckheer & Kolbe represents shareholders, employees, and consumers in class actions against corporate defendants, as well as shareholders in derivative actions against their officers and directors. The firm is based in San Francisco, and with the help of co-counsel, litigates cases nationwide.

Contact
Amber L. Schubert
Schubert Jonckheer & Kolbe LLP
[email protected]
Tel: 415-299-8257

SOURCE Schubert Jonckheer & Kolbe LLP

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