US EditionCoinbase faces another data breach lawsuit claiming stock drop damages
- Coinbase faces a class-action lawsuit filed on May 22, 2025, in Pennsylvania over a recent data breach and UK regulatory violations.
- The lawsuit follows Coinbase's disclosure of a data breach affecting over 69,000 users and a $4.5 million FCA fine for onboarding high-risk UK customers.
- Plaintiff Brady Nessler alleges that Coinbase failed to inform investors about these issues, causing the company's stock price to drop sharply after April 2021.
- Nessler states the stock lost over 7% on May 15, 2025, closing at $244, citing a 'precipitous decline' and significant damages for shareholders.
- The lawsuit seeks damages and a jury trial while Coinbase estimates potential losses up to $400 million amid ongoing legal and reputational challenges.
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