COIN - Coinbase Class Action Lawsuit Related To Unregistered Securities Trading Partially Revived | Benzinga
Coinbase (NASDAQ:COIN) finds itself back in the legal spotlight as a class action lawsuit against the company has been partially revived by a U.S. appeals court, overturning a previous dismissal.
What Happened: The lawsuit, initially dismissed in February 2023, alleged that Coinbase facilitated the trading of unregistered securities, as reported by Blockworks.
U.S. District Judge Paul Engelmayer initially ruled in favor of Coinbase, stating that the company did not claim ownership of the 79 tokens under scrutiny, thus not being the actual seller.
However, the appeals court upheld Engelmayer’s decision that the plaintiffs could not rescind transactions due to insufficient evidence ...