Coupang (CPNG) Hit With Securities Class Action Amid Massive Data Breach, Questions About Timely Disclosure, Executive Departure - Hagens Berman

SAN FRANCISCO, Dec. 24, 2025 /PRNewswire/ -- A securities class action lawsuit styled Barry v. Coupang, Inc., et al., No. 5:25-cv-10795 (N.D. Cal.) has been filed, seeking to represent investors in Coupang, Inc. (NYSE: CPNG) who purchased or otherwise acquired Coupang securities between August 6, 2025 and December 16, 2025.

The lawsuit comes in the wake of reports of Coupang's massive data breach and the company's alleged delay in disclosing it. The unfolding news has driven the price of Coupang shares significantly lower.

National shareholders rights firm Hagens Berman has commenced an investigation into allegations that Coupang has violated the securities laws and urges investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys.

Class Period: Aug. 6, 2025 – Dec. 16, 2025
Lead Plaintiff Deadline: Feb. 17, 2026
Visit: www.hbsslaw.com/investor-fraud/cpng
Contact the Firm Now: [email protected]
                                       844-916-0895

Coupang, Inc. (CPNG) Securities Class Action:

Coupang provides retail, restaurant delivery, video streaming, and fintech services to customers around the world under brands that include Coupang, Coupang Eats, Rocket Now, and Farfetch. The company's stated mission is "to revolutionize the everyday lives of its customers and create a world where people wonder, 'How did I ever live without Coupang?'"

Coupang has repeatedly assured investors "[t]he capabilities we have built provide us with opportunities to expand[]" and that its reliance on cybersecurity protocols, such as encryption and authentication technology, help it "to securely transmit confidential and sensitive information."

The lawsuit is focused on whether Coupang may have misled investors about the adequacy of its cybersecurity protocols, including as they pertained to former employees. The lawsuit also focuses on whether Coupang's disclosure controls were sufficient to ensure the company timely informed investors within four days of any material cybersecurity incident.

The propriety of Coupang's transparency to investors may have begun to come into question on November 30, 2025. That day, Reuters reported that the company apologized over the breach of personal information of a whopping 33.7 million customers through unauthorized data access. Reuters further reported that the South Korean government held an emergency meeting looking at whether Coupang violated applicable data safety rules.

On December 10, 2025, The New York Times reported that Coupang's CEO of its South Korean e-commerce unit resigned as the fallout from the data breach intensified, the company first detected a breach on November 18, 2025, and South Korean police raided Coupang's offices in Seoul for a second straight day.

Another news outlet reported on December 15, 2025, that the breach was attributed to a former Coupang employee assigned to authentication management systems and who left Coupang in 2024 but allegedly retained access credentials.

Finally, on December 16, 2025, Coupang filed an interim report on Form 8-K confirming that it first became aware of "a cybersecurity incident involving unauthorized access to customer accounts[]" on November 18, blamed it on a former employee, and warned that it could face material financial losses from the potential loss of revenue and higher expense, including regulatory penalties. 

Since the November 30, 2025, Reuters article hit the press, over $8 billion of Coupang's market capitalization has been wiped out.

"We're focused on when Coupang determined that the November 2025 breach was material and whether the company timely reported it, as required by the SEC," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.

If you invested in Coupang and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now »

If you'd like more information and answers to frequently asked questions about the Coupang case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Coupang should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

SOURCE Hagens Berman Sobol Shapiro LLP