CandleFocus Coinbase Must Face Shareholder Lawsuit Over Regulator Risk Concerns, Judge Rules
2024-09-09
Author: Content Editor
Coinbase shareholders have won a partial victory in their class action lawsuit against the cryptocurrency exchange. A US federal judge ruled that the shareholders brought plausible allegations that Coinbase misled them about the likelihood of being sued by the Securities and Exchange Commission (SEC). The judge dismissed most of the other allegations brought by the shareholders. The lawsuit was filed in 2022, and in June 2023, the SEC sued Coinbase for violating federal securities law. Coinbase's motion to dismiss the lawsuit was granted in part and denied in part, allowing certain claims to move forward. Coinbase expressed confidence in its case and appreciated the court's consideration.
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