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Coinbase Faces New Lawsuit Over Stock Drop Damages Following Data Breach

  • Coinbase is facing a class action lawsuit alleging significant losses for investors due to company omissions affecting stock price.
  • The lawsuit includes claims related to a data breach and failure to disclose breaches of a 2020 agreement with the UK's Financial Conduct Authority.
  • Coinbase's stock price fell after reports of the UK subsidiary breaching financial crime requirements and a data breach compromising user information.
  • Investors seek compensable damages under the Securities Exchange Act of 1934 due to the alleged violations by Coinbase, its CEO, and CFO.

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