Coinbase Faces Shareholder Lawsuit: Investors Sue Over Data Breach and Delayed Disclosure

US-based cryptocurrency exchange Coinbase is under legal fire after investors filed a class-action lawsuit alleging financial losses stemming from the company’s data breach and delayed communication about regulatory issues. The lawsuit claims that Coinbase failed to promptly disclose the 2020 user data breach by its UK subsidiary, CB Payments, and concealed details of a settlement with the U.K. Financial Conduct Authority (FCA). Plaintiff investor Brady Nessler argues shareholders suffered significant losses as a result.