Coupang(US:CPNG) Prnewswire·2026-01-30 20:14Core Viewpoint - Coupang, Inc. is facing a lawsuit due to allegations of misleading investors regarding its cybersecurity measures, which failed to prevent a significant data breach affecting 33.7 million accounts, leading to substantial financial losses and executive changes [2][6]. Group 1: Lawsuit and Allegations - The lawsuit claims that Coupang misrepresented its "proactive security" and "administrative safeguards" while failing to detect a data breach for nearly six months [2][6]. - The breach, attributed to a former employee, resulted in unauthorized access to sensitive customer data and has led to a compensation plan of $1.2 billion [2][6]. - Coupang's internal systems were reportedly infiltrated starting June 24, 2025, with the breach disclosed on November 29, 2025 [6]. Group 2: Financial Impact - The data breach has resulted in a loss of over $8 billion in market value for Coupang [2]. - The company announced a $1.2 billion compensation plan in response to the breach [2][6]. Group 3: Executive Changes and Regulatory Scrutiny - Following the breach, Coupang's CEO Park Dae-joon resigned on December 10, 2025, and was replaced by Harold Rogers as interim CEO [6]. - Coupang is currently under investigation by Korean regulators, which the company is fully cooperating with [6].