Technology,
Securities,
Civil Litigation
Jul. 26, 2021
Coinbase investors say it lied about need for cash
An investor claimed in a lawsuit that the company failed to disclose that it “required a sizable cash injection” and was “susceptible to service-level disruptions” that were increasingly likely to occur as it scaled up its services.
Coinbase, a cryptocurrency exchange platform, was hit with a potential class action for allegedly lying to investors about technical issues and its need to raise cash before going public.
An investor claimed in a lawsuit that the company failed to disclose that it "required a sizable cash injection" and was "susceptible to service-level disruptions" that were increasingly likely to occur as it scaled up its services.
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