Coupang Requests to Dismiss Class Action Filed by Investors

Court: S.D. New York

Case: 1:22-cv-07309

Coupang has requested the court to dismiss the lawsuit filed by investors. The court will determine whether the case proceeds.

What is this lawsuit about?

On July 13, 2022, The Korea Times published an article reporting that Coupang was under investigation for falsely advertising the membership benefits of its Rocket WOW membership services. This news piled up with others accusations against the company like it was engaged in improper anti-competitive practices.

Following this, CPNG dropped over 50% from the moment of IPO.

Then, on May 24, 2023, shareholders filed a claim against Coupang.

What can you do to recover your losses now?

We’re keeping track of all updates and will notify CPNG investors about potential recovery.

More than 600 companies are currently facing securities class action lawsuits, and over 100 are already paying settlements. Connect your brokerage account to automatically check which ones you may have missed.