Coinbase, a U.S.-based cryptocurrency exchange, is facing a class-action lawsuit from its shareholders for two separate cases after the company’s stock plunged. It alleges that Coinbase failed to timely reveal the recent user data breach and the settlement with the UK regulator, the FCA. Brady Nestle, a plaintiff investor, filed the lawsuit in the Eastern District of Pennsylvania.
The company’s UK subsidiary, CB Payments, had breached an agreement with the FCA in 2020. However, Coinbase concealed the information about a settlement from its shareholders. The lawsuit, addressed to Coinbase CEO Brian Armstrong and CFO Alesia Haas, blames the two scenarios for the decline in share prices. Therefore, seeks compensation for investors who bought Coinbase stocks between April 14, 2021, and May 14, 2025.