Did you receive a notice from Coinbase? Did you receive a mail about a class action settlement to resolve Coinbase ability to arbitrate proposed class action? This review will help you partake in the class action settlement after confirming the authenticity of the mail.
What Is Coinbase ability to arbitrate proposed class action Class Action Settlement?
Plaintiff George Kattula says he opened a Coinbase account in Jan. 2022. In April of that year, he alleges the platform allowed unknown parties to transfer almost $6,000 worth of cryptocurrency from his account and withdraw $1,000 from his bank account.
The plaintiff is represented by John C. Herman and Serina M. Vash of Herman Jones LLP.
The name of the case is Kattula v. Coinbase Global Inc., et al., Case No. 1:22-cv-03250-TWT, in the US District Court for the Northern District of Georgia Atlanta Division.
What Is This Class Action All About?
A Georgia federal judge allowed Coinbase to arbitrate a class action lawsuit alleging the cryptocurrency exchange failed to keep customers’ accounts secure and therefore allowed financial losses from account breaches and unauthorized transfers.
On July 6, U.S. District Judge Thomas W. Thrash Jr. granted Coinbase’s motion to compel arbitration and stayed the case until further order of the court.
Kattula alleges Coinbase rejected his complaint and refused to reimburse him for the unauthorized transactions.
The Coinbase platform allows customers to store their money in a digital “wallet” and to buy, sell, spend, and trade cryptocurrency on exchanges. The lead plaintiff, George Kattula, opened a Coinbase account in January 2022. In April, Coinbase allowed unknown parties to transfer almost $6,000 worth of cryptocurrency from his account and withdraw $1,000 from his bank account, according to the complaint. Kattula says that in June, Coinbase rejected his complaint and refused to reimburse him for the unauthorized transactions.
Kattula seeks to represent a nationwide class of all current and former Coinbase account holders and/or customers who maintained assets in a Coinbase account and who subsequently lost or were deprived access to their assets, their Coinbase account, and/or their personal data.
Who Is Eligible?
This settlement benefits all class members who have faced issues with your Coinbase account.
How To Be Part of This Settlement
Class members must submit a valid and timely claim on the settlement website in order in this class action settlement.
What Is The Pay For This Settlement?
The pay for this settlement varies and the proof of purchase is not necessary.
Conclusion
As you submit your claim to the settlement website, just like Varsity Brands All Star Cheer antitrust class action settlement we have reviewed, you’re doing so under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim.
