Pomerantz LLP is investigating claims on behalf of investors of Coinbase Global, Inc. ("Coinbase" or the "Company") COIN. Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Coinbase and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On July 25, 2024, the Financial Conduct Authority ("FCA"), a U.K. financial regulator, issued a press release announcing that it had fined Coinbase's U.K. unit, CB Payments Limited ("CBPL"), approximately $4.5 million "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 this news, Coinbase's stock price fell $13.54 per share, or 5.53%, to close at $231.52 per share on July 25, 2024.
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