Coupang(US:CPNG) Globenewswire·2026-01-19 18:26Core Viewpoint - Hagens Berman is notifying investors about a pending securities class action against Coupang, Inc. regarding alleged misrepresentation of cybersecurity protocols and a significant data breach affecting customer information [1][2]. Group 1: Legal Proceedings - The lead plaintiff deadline for the class action lawsuit is set for February 17, 2026 [4]. - The class period for the lawsuit covers transactions from May 7, 2025, to December 16, 2025 [4]. - The key allegation involves delayed disclosure of a cybersecurity breach detected on November 18, 2025 [4]. Group 2: Allegations and Breach Details - The lawsuit claims that Coupang misled investors by assuring them of adequate cybersecurity measures while concealing a breach that allowed unauthorized access to sensitive customer data [2][5]. - On November 29, 2025, Coupang disclosed that its systems were infiltrated, affecting approximately 33.7 million customer accounts in Korea [7]. - The breach is believed to have begun on June 24, 2025, via overseas servers [7]. Group 3: Executive Changes and Regulatory Actions - Coupang's CEO, Park Dae-joon, resigned on December 10, 2025, in connection with the data leak incident [7]. - Following the breach, Coupang announced a compensation plan of 1.685 trillion won (over $1 billion) to restore customer trust [7]. - Korean regulators have initiated investigations into the incident, and Coupang is cooperating fully [7]. Group 4: Investigation and Whistleblower Information - Hagens Berman is investigating whether Coupang was aware of inadequate cybersecurity practices but failed to disclose this information [6]. - Reports suggest that the breach may have involved a former employee using authentication keys that remained valid for an extended period [8]. - Whistleblowers with non-public information regarding Coupang are encouraged to come forward, with potential rewards under the SEC Whistleblower program [9].