According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:
- Coupang had inadequate cybersecurity protocols that allowed a former employee to access sensitive customer information for nearly six months without being detected;
- this subjected Coupang to a materially heightened risk of regulatory and legal scrutiny;
- when defendants became aware that Coupang had been subjected to this data breach, they did not report it in a current report filing (to be filed with the U.S. Securities and Exchange Commission (the “SEC”) in compliance with applicable reporting rules; and
- as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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