A US federal judge ruled on August 20 that parts of an investor class-action lawsuit against Coinbase can proceed to the discovery phase. The lawsuit alleges that Coinbase concealed potential bankruptcy risks and downplayed SEC scrutiny in its investor disclosures. Judge Katherine Polk Failla dismissed several claims but allowed allegations regarding inadequate risk disclosures to move forward. The ruling is procedural and does not represent a finding of liability or wrongdoing against Coinbase. The case is being heard in the Southern District of New York.
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