NEW
YORK, Sept. 28, 2022 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of Coupang,
Inc..
Shareholders who purchased shares of CPNG during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/coupang-inc-loss-submission-form/?id=32111&from=4
CLASS PERIOD: This lawsuit is on behalf of all purchasers
of Coupang Class A common stock pursuant and/or traceable to the
registration statement issued in connection with Coupang's
March 2021 initial public
offering.
ALLEGATIONS: The complaint alleges that during the class
period, Defendants issued materially false and/or misleading
statements and/or failed to disclose that: (a) Coupang was engaged
in improper anti-competitive practices with its suppliers and other
third parties in violation of applicable regulations, including:
(i) pressuring suppliers to raise prices of products on competing
e-commerce platforms to ensure Coupang's prices would be more
competitive; (ii) coercing suppliers into purchasing advertisements
that would benefit Coupang financially; (iii) forcing suppliers to
shoulder all expenses from sales promotions; and (iv) requesting
wholesale rebates from suppliers without specifying any terms
relating to rebate programs, all of which served to artificially
maintain Coupang's lower prices and artificially inflate Coupang's
historical revenues and market share; (b) Coupang had improperly
adjusted search algorithms and manipulated product reviews on its
marketplace platform to prioritize its own private-label branded
products over those of other sellers and merchants, to the
detriment of consumers, merchants, and suppliers; (c) unbeknownst
to its Rocket WOW members, Coupang was selling products to
non-member customers at lower prices than those offered to its
Rocket WOW members; (d) Coupang subjected its workforce to extreme,
unsafe, and unhealthy working conditions; (e) all of the above
illicit practices exposed Coupang to a heightened, but undisclosed,
risk of reputational and regulatory scrutiny that would harm
Coupang's critical relationships with consumers, merchants,
suppliers, and the workforce; and (f) Coupang's lower prices,
historical revenues, competitive advantages, and growing market
share were the result of systemic, improper, unethical, and/or
illegal practices, and, thus, unsustainable.
DEADLINE: October 25, 2022
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/coupang-inc-loss-submission-form/?id=32111&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of CPNG during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is October 25, 2022. There is no cost
or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law Firm is
committed to ensuring that companies adhere to responsible business
practices and engage in good corporate citizenship. The firm seeks
recovery on behalf of investors who incurred losses when false
and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm