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Wealthfront Corp. Under Investigation By Block & Leviton; Investors Who Lost Money Following WLTH IPO Should Contact the Firm
Globenewswire· 2026-01-27 13:32
Group 1 - Block & Leviton is investigating Wealthfront Corp. for potential securities law violations following a significant drop in share price and concerning financial disclosures [1][2] - Wealthfront reported $208 million in net deposit outflows, a stark contrast to the previous year's $874 million in inflows, which contributed to a more than 15% decline in its stock price [2] - The investigation focuses on disclosures made during Wealthfront's IPO, particularly regarding the CEO's large controlling stake in the company's new home lending business [2][4] Group 2 - Investors who have lost money on Wealthfront common stock may be eligible to participate in the investigation, regardless of whether they have sold their shares [3] - Block & Leviton aims to recover losses for investors and may file legal actions if securities law violations are confirmed [4] - The firm encourages whistleblowers with non-public information about Wealthfront to assist in the investigation, with potential rewards for original information provided to the SEC [6]
Coupang (CPNG) Hit With Securities Class Action Amid Massive Data Breach, Questions About Timely Disclosure, Executive Departure – Hagens Berman
Globenewswire· 2025-12-23 17:59
Core Viewpoint - A securities class action lawsuit has been filed against Coupang, Inc. due to a significant data breach and alleged delays in disclosure, leading to a substantial decline in the company's stock price [1][2]. Group 1: Lawsuit Details - The lawsuit, Barry v. Coupang, Inc., seeks to represent investors who acquired Coupang securities between August 6, 2025, and December 16, 2025 [1][4]. - The lead plaintiff deadline for the lawsuit is set for February 17, 2026 [4]. Group 2: Data Breach Incident - Coupang experienced a data breach affecting approximately 33.7 million customers, which was reported on November 30, 2025 [5]. - The breach was attributed to a former employee who retained access credentials after leaving the company in 2024 [7]. - Coupang first detected the breach on November 18, 2025, and subsequently confirmed the incident in an interim report filed on December 16, 2025 [8]. Group 3: Financial Impact - Since the breach was reported, Coupang has lost over $8 billion in market capitalization [9]. - The company warned of potential material financial losses due to revenue loss and increased expenses, including regulatory penalties [8]. Group 4: Company Background - Coupang provides a range of services including retail, restaurant delivery, video streaming, and fintech under various brands [4]. - The company has emphasized its commitment to cybersecurity, claiming to have built capabilities to securely transmit sensitive information [4].