Herman Jones LLP Is Investigating Claims on Behalf of Coinbase Users Whose Cryptocurrency Have Been Stolen or Misappropriated
On August 15, 2022, Herman Jones LLP commenced a class action lawsuit in federal court in the Northern District of Georgia, styled George Kattula v. Coinbase Global, Inc. and Coinbase Inc. (collectively “Coinbase”) (Case No: 1:22-cv-03250), on behalf of users of Coinbase cryptocurrency accounts. On October 21, 2022, the complaint was amended to add fifty-four additional named plaintiffs. Among other contentions, the First Amended Complaint asserts that contrary to its representations, which are designed to induce consumers to entrust Coinbase with funds, Coinbase does not properly employ standard practices to safeguard and protect user accounts on Coinbase.com or Coinbase Wallet. The First Amended Complaint further contends that the Coinbase exchange (Coinbase.com) and Coinbase Wallet are riddled with security flaws that enable fraudsters to infiltrate accounts and appropriate victim’s cryptocurrency, and that Coinbase improperly and unreasonably locks out its consumers from accessing their accounts and assets, either for extended periods of time or indefinitely, improperly seizes its customers’ assets, and fails to properly respond to customer complaints or redress consumer problems. The Plaintiffs seek, among other things, damages against Coinbase for breach of fiduciary duties, breach of contract and violations of the Electronic Funds Transfer Act and Regulation E.
Herman Jones LLP (www.hermanjones.com) currently is investigating potential claims on behalf of additional individuals who may have been harmed by Coinbase’s actions and is considering the filing of arbitration proceedings on behalf of victims of Coinbase.
IF YOU HAVE HELD A COINBASE, COINBASE PRO, COINBASE ADVANCED, COINBASE ONE, or COINBASE WALLET account AND EXPERIENCED LOSSES DUE TO THEFT OR MISAPPROPRIATION OF YOUR CRYPTOCURRENCY, you may have standing to hold Coinbase responsible for the companies’ possible bad acts. You may also be able to assist in reforming the companies’ practices to prevent future wrongdoing.
IF YOU ARE INTERESTED IN LEARNING MORE ABOUT THE INVESTIGATION AND LEGAL PROCEEDINGS, PLEASE CONTACT US AT THE INFORMATION BELOW. IF EMAILING, PLEASE INCLUDE A PHONE NUMBER.
ABOUT HERMAN JONES LLP:
Herman Jones LLP (www.hermanjones.com) is a nationally recognized high stakes litigation law firm with offices in Atlanta, Newark and Seattle. Herman Jones LLP represents individual and institutional investors in shareholder derivative and securities class action lawsuits, in addition to antitrust, intellectual property, consumer class actions and venture fund transactional work. Herman Jones LLP regularly assists clients in recovering losses resulting from violations of federal securities laws. For more information about the firm and its attorneys, please visit https://www.hermanjones.com. Attorney advertising. Past results do not guarantee future outcomes.
John Herman
Herman Jones LLP
+1 404-504-6500
hjadmin@hermanjones.com
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