Another class action lawsuit has been filed against Coinbase - this time from investor Brady Nessler, who claims that a data leak and violation of the agreement with the British FCA led to shareholder losses.
On May 15, COIN shares fell by 7.2% to $244.
On May 16, they recovered to $266, but on May 23, they fell again by 3% to $263.
Here's What We Know:
- Coinbase admitted the fact of bribing support employees by attackers.
- The company's bill for compensation may reach $400 million.
- The British regulator previously fined Coinbase UK $4.5 million for working with 13,416 "high-risk clients."
The lawsuit was filed on behalf of everyone who held Coinbase shares from 04/14/2021 to 05/14/2025. A jury trial and damages are required. Among the defendants are CEO Brian Armstrong and CFO Alecia Haas.
