Archived Investigations
Coupang, Inc. (NYSE: CPNG)
Coupang and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company had inadequate cybersecurity protocols that allowed a former employee to access sensitive customer information for nearly six months without being detected; (ii) this subjected the Company to a materially heightened risk of regulatory and legal scrutiny; (iii) when defendants became aware that the Company had been subjected to this data breach, they did not report it in a current report filing in compliance with applicable Securities and Exchange Commission reporting rules; and (iv) as a result, defendants’ public statements were materially false and/or misleading at all times.
The first-filed case is Barry v. Coupang, Inc., et al., No. 25-cv-10795. A subsequent case, Lee v. Coupang, Inc., et al., No. 26-cv-00047, expanded the class period.