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News  ›  GlobeNewswire Inc.

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

GlobeNewswire Inc. Logo GlobeNewswire Inc. • •By Hagens Berman
Coupang (CPNG) Hit With Securities Class Action Amid Massive Data Breach, Questions About Timely Disclosure, Executive Departure – Hagens Berman

A securities class action lawsuit has been filed against Coupang (CPNG) following a massive data breach affecting 33.7 million customers. The lawsuit alleges the company delayed disclosing the November 18, 2025 breach until December 16, 2025, potentially violating SEC disclosure requirements. The incident has wiped out over $8 billion in market capitalization, and the company's CEO of its South Korean e-commerce unit resigned. The breach was attributed to a former employee who retained access credentials after leaving in 2024.

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SNPS   negative

Claims of misleading statements about AI customer focus and deteriorating business economics

CPNG   negative

The company faces a securities class action lawsuit over alleged delayed disclosure of a massive data breach affecting 33.7 million customers. The breach was attributed to inadequate cybersecurity controls regarding former employees, resulting in over $8 billion in market capitalization loss, executive resignation, and potential regulatory penalties.

Keywords
#data breach #securities fraud #class action lawsuit #disclosure violation #cybersecurity incident #customer data #SEC compliance #market capitalization loss

Tickers
CPNG
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