Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
10/08/2021
Initial Lawsuit
10/08/2021
Lawsuit Progression
01/11/2022
Plaintiff brought this federal securities class action on behalf of all persons and entities that purchased, sold, or otherwise transacted in securities on the online trading platform (Coinbase and Coinbase Pro) owned and operated by defendant Coinbase Global, Inc. from the beginning of any applicable limitations period through the date of certification.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:
Despite the fact that the Coinbase Digital Asset Platforms, as operated by Defendant Coinbase, meet the definition of an “exchange” under federal securities laws, Coinbase has not registered the Coinbase Digital Asset Platforms as national securities exchanges, nor does Coinbase operate the Coinbase Digital Asset Platforms pursuant to an exemption from registration.
Coinbase’s failure to so register is therefore a violation of Section 5 of the Exchange Act.
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.