Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

COINBASE GLOBAL, INC.

(COIN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Glancy Prongay & Murray LLP : a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Coinbase Global, Inc. (COIN) Investors

07/27/2021 | 01:01pm EDT

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Coinbase Global, Inc. (“Coinbase” or the “Company”) (NASDAQ: COIN) Class A common stock pursuant and/or traceable to the registration statement for the resale of up to 114.8 million shares, whereby Coinbase began trading as a public company on or around April 14, 2021 (the “Offering”). Coinbase investors have until September 20, 2021 to file a lead plaintiff motion.

If you suffered a loss on your Coinbase investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/coinbase-global-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

Coinbase is the largest cryptocurrency exchange in the U.S. The Offering materials stated that Coinbase is “powered by a robust backend technology system” and that it had “grown quickly and in a capital-efficient manner since [its] founding.”

On May 17, 2021, Coinbase announced a $1.25 billion convertible bond sale. Forbes.com noted that “[i]nvestors were also likely surprised by the timing of the issue, considering that Coinbase just went public in mid-April via a direct listing (which doesn’t involve issuing new shares or raising capital), signaling that it didn’t require cash.”

On this news, Coinbase’s stock fell $9.24, or 3.7%, to close at $239.00 per share on May 18, 2021, thereby injuring investors.

Then, on May 19, 2021, Coinbase announced technical problems, including “delays…due to network congestion” affecting those who wanted to withdraw their money.

On this news, Coinbase’s stock price fell $14.20, or 6%, to close at $224.80 per share on May 19, 2021, thereby injuring investors further.

The Registration Statement was materially false and misleading and omitted to state material adverse facts. Throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Coinbase required a sizeable cash injection; (2) Coinbase’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 (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Follow us for updates on LinkedIn, Twitter, or Facebook.

If you purchased or otherwise acquired Coinbase Class A common stock pursuant and/or traceable to the Offering, you may move the Court no later than September 20, 2021 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


© Business Wire 2021
All news about COINBASE GLOBAL, INC.
09/15CLASS ACTION ALERT : Kessler Topaz Meltzer & Check, LLP Announces Class Action L..
PR
09/15COINBASE GLOBAL : The Law Offices of Frank R. Cruz Announces the Filing of a Sec..
PR
09/15COINBASE GLOBAL : Announces the Upsize and Pricing of $2.0 Billion of Senior Not..
PU
09/15COINBASE GLOBAL, INC. : Other Events (form 8-K)
AQ
09/14COINBASE GLOBAL : upsizes debt offering to $2 billion
RE
09/14COINBASE GLOBAL : Announces the Upsize and Pricing of $2.0 Billion of Senior Not..
BU
09/14Coinbase Global, Inc. Announces the Upsize and Pricing of $2.0 Billion of Sen..
CI
09/14COINBASE GLOBAL : Raises High-Yield Note Offering by $500 Mln To $2.0 Bln
MT
09/14Sportradar valued at nearly $8 billion in U.S. market debut
RE
09/13COINBASE GLOBAL : ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Encourages Coinbase..
PR
More news
Analyst Recommendations on COINBASE GLOBAL, INC.
More recommendations
Financials (USD)
Sales 2021 6 913 M - -
Net income 2021 2 990 M - -
Net cash 2021 3 510 M - -
P/E ratio 2021 20,5x
Yield 2021 -
Capitalization 52 114 M 52 114 M -
EV / Sales 2021 7,03x
EV / Sales 2022 7,74x
Nbr of Employees 2 176
Free-Float 54,7%
Chart COINBASE GLOBAL, INC.
Duration : Period :
Coinbase Global, Inc. Technical Analysis Chart | COIN | US19260Q1076 | MarketScreener
Technical analysis trends COINBASE GLOBAL, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 247,07 $
Average target price 335,53 $
Spread / Average Target 35,8%
EPS Revisions
Managers and Directors
Brian Armstrong Chief Executive Officer & Director
Alesia J. Haas Chief Financial Officer
Fred Ehrsam Director
Frederick R. Wilson Director
Kathryn Haun Director
Sector and Competitors
1st jan.Capi. (M$)
COINBASE GLOBAL, INC.0.00%52 114
MARATHON DIGITAL HOLDINGS, INC.254.89%3 691
RIOT BLOCKCHAIN, INC.78.52%2 910
ARGO BLOCKCHAIN PLC351.52%787