Judge Says Coinbase Must Face Stockholder Class Action Suit

9/16/2024 2:15:12 PM

(MENAFN- Investor Brand Network)
Coinbase Global Inc. (NASDAQ: COIN) , the largest U.S. Cryptocurrency exchange, is in a sticky situation after the federal judge overseeing the
class action lawsuit
filed by its shareholders ruled that the suit will proceed. The judge made a ruling that the allegations that Coinbase downplayed the likelihood that the U.S. Securities and Commission (SEC) would sue them, were credible. Coinbase was
sued
in June 2023 by the SEC for violating the U.S federal securities law.

The judge's decision not to dismiss the suit has stunned the world of cryptocurrency, with many wondering about Coinbase's transparency with its...

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