Coupang Faces Securities Fraud Class Action Over Data Breach Exposing 33 Million Customers; Lead Plaintiff Deadline Set for February 17, 2026
Coupang Investors Face February 2026 Deadline in Securities Fraud Lawsuit
Investors who suffered substantial losses in South Korean e-commerce company Coupang, Inc. (CPNG) have until February 17, 2026, to file lead plaintiff applications in a pending securities class action lawsuit. The legal action stems from allegations that the company violated U.S. securities laws following a significant cybersecurity breach that exposed the personal information of more than 33 million customers.
The lawsuit, which is currently pending in the United States District Court for the Northern District of California, names Coupang, its CEO and Chairman Bom Kim, and its Chief Financial Officer Gaurav Anand as defendants. The complaint alleges that the defendants misled investors during the period between August 6, 2025, and December 16, 2025, inclusive (the “Class Period”), leading to a subsequent decline in the stock price.
Cybersecurity Breach Triggers Investor Action
The core of the class action centers on a massive data breach. According to court filings, the breach compromised the personal data of over 33 million customers. While the exact details of the alleged misrepresentations are not fully disclosed in the initial announcements, securities class actions typically claim that companies failed to disclose material adverse facts regarding their operations, financial condition, or compliance risks, thereby artificially inflating the stock price during the Class Period.
The filing of the lawsuit suggests that investors believe the company’s public statements or omissions regarding its data security protocols and the financial or regulatory fallout from the breach were misleading. The action seeks to recover damages for all investors who purchased or otherwise acquired Coupang securities during the specified Class Period.
The lawsuit, filed last week in federal court in California, claims Coupang, its CEO and Chairman Bom Kim and its Chief Financial Officer Gaurav Anand misled investors.
Lead Plaintiff Deadline and Legal Implications
The deadline of February 17, 2026, is crucial for investors seeking to take a leadership role in the litigation. Under the Private Securities Litigation Reform Act of 1995 (PSLRA), the investor or group of investors with the largest financial interest in the relief sought is typically appointed as the lead plaintiff. The lead plaintiff oversees the litigation and selects lead counsel, ensuring the interests of the class are adequately represented.
The law firm Kahn Swick & Foti, LLC (“KSF”), along with KSF partner and former Attorney General of Louisiana, Charles C. Foti, Jr., reminded investors of the approaching deadline. The firm is actively soliciting investors who suffered substantial losses to contact them regarding the application process.
- Defendants: Coupang, Inc., CEO Bom Kim, and CFO Gaurav Anand.
- Jurisdiction: United States District Court for the Northern District of California.
- Class Period: August 6, 2025, through December 16, 2025.
- Allegation: Violations of securities laws related to a data breach and subsequent stock decline.
For Coupang, a major player in the competitive South Korean e-commerce market, this U.S. securities litigation adds a layer of legal and financial uncertainty. Securities fraud lawsuits can result in significant financial settlements or judgments, impacting the company's balance sheet and potentially diverting management focus from core business operations. The outcome of the lead plaintiff selection process in early 2026 will set the stage for the subsequent phases of discovery and negotiation in this high-profile case.
