Exchange News

NASDAQ listing lands Coinbase in another lawsuit

TL;DR Breakdown

  • Coinbase was recently sued over the accusations of misleading people with the “Dogecoin” campaign.
  • It has found itself in trouble again concerning the NASDAQ listing of the company back in April.
  • The directors, firms, and everyone who has grasped sweet fruits from Coinbase’s direct offering materials.

Coinbase is a major crypto exchange firm that operates in the land of dreams, the United States of America. People have been putting their money into the platform for a while now. A lawsuit emerged first when the company was accused of ‘misleading’ the Dogecoin campaign.

Another lawsuit has been filed in the name of Coinbase and all the executives, firms, and officials who have reaped the benefits during April’s direct offering on NASDAQ by the firm.

NASDAQ listing and lawsuit

Scott+Scott Attorneys at Law LLP was behind this recent lawsuit filed and targeted a lot of Coinbase officials who took profits from the NASDAQ listing. The lawsuit was filed on behalf of Donald Ramsey and others in similar situations who claim that the offering materials were “misguiding.”

The common Class A stock of Coinbase that the litigators bought was traceable to the company’s offering prospectus wherein it wasn’t mentioned that the organizations needed “cash injection.” It also wasn’t mentioned that the company would be subjected to disruptions when large-scale advancement would take place.

Dogecoin lawsuit

Prior to this NASDAQ listing lawsuit, the company was claimed to have commited fraud by “deceiving” its users, wherein David Suski invested $100 to the platform so that it would be eligible for a sweepstakes offer that amounted to over USD1.2 million.

According to the plaintiff, the trading of DOGE was manipulated for money by the platform as entrance into the sweepstakes offer didn’t require any $100 trade, and it could be done with just a simple index card.

This post was last modified on July 24, 2021 10:00 pm

Parth Dubey

A writer, an author, a freelancer with writings in over 50+ niches, an editor, a proofreader, a music enthusiast, a YouTuber, a podcaster, and someone, who puts consistent efforts each day to make sure his creativity is noticed. What's more? I love cryptocurrencies.

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