NEW YORK, May 12, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Coinbase Global, Inc. (“Coinbase” or the “Company”) (NASDAQ: COIN) on behalf of Coinbase stockholders. Our investigation concerns whether Coinbase has violated the federal securities laws and/or engaged in other unlawful business practices.
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On May 10, 2022, Coinbase reported its first quarter 2022 results. The company stated it lost $430 million in the first quarter. Along with this, the company reported a first-quarter 2022 loss of $1.98 per share compared to the year-ago earnings of $3.05 per share.
On this news, Coinbase shares fell $18.14, or more than 15%, in after-hours trading, to open at $54.85 on May 11, 2022.
The stock has lost more than 70% of its value since late March, as a broader slide in tech stocks and the value of cryptocurrencies hit Coinbase particularly hard.
“The crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings.”
If you purchased or otherwise acquired Coinbase shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.