U.S. District Court Dismisses Class Action Lawsuit Against Coinbase
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Class action lawsuit by coinbase users The US District Court for the Southern District of New York has dismissed a class action lawsuit against the crypto asset (virtual currency) exchange Coinbase on the 1st. The company’s stock price rose 24% after the lawsuit was dismissed. The lawsuit was filed in March 2022 by three Coinbase user plaintiffs. It claims that Coinbase sells unregistered securities and seeks compensation for damages incurred in trading those tokens. Relation: Claimed to sell class action unregistered securities to US coinbase Court Judge Paul Engelmayer dismissed the motion because the plaintiffs failed to prove that Coinbase