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NEW YORK, Sept. 7, 2024 /PRNewswire/ --
Why: Rosen Law Firm, a global investor rights law firm, continues to investigate 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.
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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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