NEW YORK, Jan. 29, 2015 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating Coinbase, Inc. for allegedly making false and misleading statements to prospective and current users of Coinbase's Bitcoin Exchange regarding its business.
On January 26, 2015, Coinbase announced that it launched the first regulated Bitcoin Exchange in the United States, and that it is licensed to do business in 25 states, including New York and California. Coinbase's statement may have artificially inflated the price of Bitcoins as the cybercurrency rose to $263. However, it was later revealed by New York's Department of Financial Services and California's Department of Business Oversight that Coinbase did not have the licenses necessary to operate as a Bitcoin Exchange in New York or California. Following this announcement, the price of a Bitcoin fell to $233.
If you are a user of Coinbase's Bitcoin Exchange and have information that may be helpful to our investigation or would like additional information regarding this investigation, please call us at no cost at:
Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliate, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the "50 Elite Trial Lawyer Firms" and one of the "50 Leading Plaintiff Firms in America." Attorney advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC