Crypto Exchange Coinbase Mostly Loses Class Action Dismissal

A group of Coinbase shareholders sued the exchange in 2022, claiming the exchange “made materially false and misleading statements” about its operations and risk of regulatory action. U.S. District Judge Brian Martinotti of the District of New Jersey ruled Thursday that while the plaintiffs had a plausible case that Coinbase acted “negligently” when it came to the regulatory actions (in fact, the SEC gave suing Coinbase), they did. does not make a plausible case for most of the charges.