COIN SHAREHOLDER ALERT: Investors With Substantial Losses Have Opportunity to Lead the Coinbase Global, Inc. Class Action Lawsuit

SAN DIEGO–(BUSINESS WIRE) – Robbins Geller Rudman & Dowd LLP announces that buyers of Coinbase Global, Inc. (NASDAQ: COIN) have purchased Class A common shares as per Coinbase’s offering documents for the resale of up to 114,850,769 shares of Class A common shares and / or traceable, with Coinbase commencing trading as a publicly traded company on or about April 14, 2021 (the “Offer”) (the “Offer”) until the 20th others for violations of the Securities Act of 1933. The Coinbase class action lawsuit (Ramsey v. Coinbase Global, Inc., No. 21-cv-05634) was initiated in the Northern District of California on July 22, 2021 and is assigned to Judge Vince Chhabria .

If you would like to act as the lead plaintiff in the Coinbase class action, please provide your information by clicking here. You can also contact Attorney JC Sanchez of Robbins Geller by phone at 800 / 449-4900 or by email at [email protected]. Motions by the lead plaintiffs for the class action lawsuit against Coinbase must be filed with the court no later than September 20, 2021.

CASE ALLEGES: The Coinbase class action alleges that Coinbase’s offering materials were false and misleading and that at the time of the offering it was not stated that (i) Coinbase required a substantial cash injection; (ii) Coinbase’s platform has been susceptible to service-level disruptions that are more likely to occur as Coinbase scales its services to a larger user base; and (iii) as a result, Defendants’ positive statements about the business, operations and prospects of Coinbase were materially misleading and / or unfounded.

In May 2021, Coinbase announced plans to raise approximately $ 1.25 billion through a sale of convertible bonds (the “Bond Offering”). Forbes.com was quick to note the conflict between the offering materials and Coinbase’s bond offer in its article titled “Why Is Coinbase Stock Trending Lower?” Information in the relevant part “[i]Investors were likely surprised by the timing of the issue too, considering that Coinbase didn’t go public via a direct listing until mid-April (without issuing new shares or raising capital), which signals that it doesn’t require cash to do so. As a result of this news, Coinbase’s share price fell nearly 4%.

May 2021, when the value of cryptocurrencies plummeted, Coinbase revealed technical problems faced by users on its platform, including “delays. . . because of network congestion ”, which affects those who want to withdraw their money. As a result of this news, Coinbase’s share price fell nearly 6%, causing further damage to investors.

THE LEAD APPLICANT TRIAL: The Private Securities Litigation Reform Act of 1995 allows any investor who has acquired and / or is traceable to Coinbase Class A common stock pursuant to and / or attributable to the Offering Materials issued in connection with the Offering to be appointed as lead plaintiff in the Coinbase class action lawsuit. A lead plaintiff is usually the applicant with the greatest financial interest in the legal protection sought by the alleged class, which is also typical and appropriate for the alleged class. A lead plaintiff is acting on behalf of all the other group members in directing the Coinbase class action lawsuit. The lead plaintiff can select a law firm of their choice to bring the Coinbase class action lawsuit. An investor’s ability to participate in a possible future collection of the Coinbase class action lawsuit does not depend on serving as the lead plaintiff.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm serving investors in securities class actions. Robbins Geller’s attorneys have secured many of the largest shareholder reclaims in history, including the largest securities class action of all time – $ 7.2 billion – in In re Enron Corp. Sec. Lit. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for getting $ 1.6 billion back for investors last year, more than double the amount paid by any other securities plaintiff firm was drafted. Please visit https://www.rgrdlaw.com/firm.html for more information.

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