Coinbase Faces Class-Action Lawsuit Over Data Breach and Regulatory Violations

Coinbase is embroiled in a new legal battle from investors alleging that its recent data breach and alleged regulatory violations caused substantial financial harm to shareholders. Shareholder Brady Nessler filed a proposed class-action lawsuit on May 22, claiming the crypto exchange’s delayed disclosure of the data breach and a violation by the UK’s Financial Conduct Authority (FCA) led to a stock decline. Nessler alleges that Coinbase withheld crucial information regarding the company’s stock value, ultimately causing financial losses for investors.