Saxena White P.A. Files Securities Fraud Class Action Against Coupang, Inc., Certain of Its Executives, and Coupang Corp., Expanding the Class Period and Allegations Asserted in Related Action

BOCA RATON, Fla., Jan. 07, 2026 (GLOBE NEWSWIRE) -- Saxena White P.A., along with its co-counsel Hausfeld LLP, Keller Rohrback L.L.P., and We The People Law Group, have filed a securities fraud class action lawsuit (the “Class Action”) in the United States District Court for the Western District of Washington against Coupang, Inc. (“Coupang” or the “Company”) (NYSE: CPNG), certain of its executive officers, and Coupang Corp. (collectively, “Defendants”). The Class Action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and U.S. Securities and Exchange Commission (“SEC”) Rule 10b-5 promulgated thereunder on behalf of all investors who purchased or otherwise acquired Coupang common stock between May 7, 2025 and December 16, 2025, inclusive (the “Class Period”), and were damaged thereby (the “Class”). The Class Action filed by Saxena White and its co-counsel is captioned Hakrae Lee, et al. v. Coupang, Inc., et al., No. 2:26-cv-00047 (W.D. Wash.).

The Class Action complaint expands the class period and allegations asserted in a related action against Coupang and certain of its executive officers captioned: Barry v. Coupang, Inc., et al., No. 5:25-cv-10795 (N.D. Cal. filed December 18, 2025) (the “Barry Action”). Specifically, the Class Action expands the class period pled from August 6, 2025 to December 16, 2025, both dates inclusive, in the Barry Action, to May 7, 2025 to December 16, 2025, both dates inclusive, in the Class Action on behalf of all investors who purchased Coupang common stock.

Pursuant to the notice published on December 18, 2025 in connection with the filing of the Barry Action, and as required by the Private Securities Litigation Reform Act of 1995 (PSLRA), investors wishing to serve as lead plaintiff are required to file a motion for appointment as lead plaintiff by no later than February 17, 2026. The filing of the Class Action does not alter the lead plaintiff deadline.

Based in Seattle, Washington, Coupang purports to be a technology and commerce company that offers a broad array of services, including online retail and restaurant delivery, among others. Coupang operates through two business segments: (1) Product Commerce; and (2) Developing Offerings. The Product Commerce segment generated 88% of the Company’s total revenue in 2024, primarily through South Korea–based Coupang Corp., a wholly owned subsidiary that operates the Company’s main e-commerce platform, delivery services, and other customer-facing operations within South Korea.

Coupang’s e-commerce platform and other services rely on collecting, storing, and transmitting customer, merchant, and supplier data, including sensitive personal information. As a result, Coupang’s implementation of cybersecurity safeguards to mitigate external and internal security risks are essential to the Company’s business and its customers.

The Class Action alleges that, during the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Coupang had not maintained adequate cybersecurity procedures and practices to protect against internal and external security breaches; (2) as a result, there was a significant risk that Coupang Corp.’s internal systems would be infiltrated by nefarious actors, exposing customers’ sensitive information; (3) the risk of a security breach in Coupang Corp.’s internal systems had already materialized in June 2025; (4) due to the foregoing, Coupang would likely face increased regulatory scrutiny, and its business would be adversely affected; and (5) as a result of the above, Defendant’s positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

The truth began to emerge on November 29, 2025, when Coupang Corp. disclosed that its internal systems were infiltrated by a nefarious actor, resulting in “unauthorized personal data access” involving “about 33.7 million” customer accounts in Korea.   Coupang Corp. further explained that “it is believed that unauthorized access to personal information began on June 24, 2025, via overseas servers.”   On this news, Coupang common stock fell $1.51 per share, or about 5.36%, to close at a price of $26.65 per share on December 1, 2025, the next trading day.

On December 10, 2025, before markets opened, Coupang Corp. announced that its Chief Executive Officer (“CEO”), Park Dae-joon, had resigned “in connection with the recent personal information leak incident,” and that Coupang appointed its Chief Administrative Officer and General Counsel, Harold Rogers, as Coupang Corp.’s interim CEO.   On this news, Coupang common stock fell $0.87 per share, or about 3.2%, to close at a price of $26.06 per share on December 10, 2025.

The truth fully emerged on December 16, 2025, after markets closed, when Coupang issued a press release acknowledging that on November 18, 2025, Coupang and Coupang Corp. “became aware of a cybersecurity incident involving unauthorized access to customer accounts.”   The press release disclosed that “a former employee may have obtained the name, phone number, delivery address, and email address associated with up to 33 million customer accounts[.]” Coupang also informed investors that “Korean regulators have initiated investigations with which Coupang is fully cooperating.” On this news, Coupang common stock fell $0.74 per share, or about 2%, to close at a price of $22.72 per share on December 17, 2025.

If you purchased Coupang common stock during the Class Period and were damaged thereby, you are a member of the “Class” and may be able to seek appointment as lead plaintiff. If you wish to apply to be lead plaintiff, a motion on your behalf must be filed with the U.S. District Courts for the Northern District of California and the Western District of Washington no later than February 17, 2026. The lead plaintiff is a court-appointed representative for absent members of the Class. You do not need to seek appointment as lead plaintiff to share in any Class recovery in the Class Action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member.

You may contact Marco A. Dueñas (mduenas@saxenawhite.com), a Senior Attorney at Saxena White P.A., to discuss your rights regarding the appointment of lead plaintiff or your interest in the Class Action. You also may retain counsel of your choice to represent you in the Class Action. You may obtain a copy of the Complaint and inquire about actively joining the Class Action at www.saxenawhite.com.

Saxena White P.A., with offices in Florida, New York, California, and Delaware, is a leading national law firm focused on prosecuting securities class actions and other complex litigation on behalf of injured investors. Currently serving as lead counsel in numerous securities class actions nationwide, Saxena White has recovered billions of dollars on behalf of injured investors.

CONTACT INFORMATION
Marco A. Dueñas, Esq.
mduenas@saxenawhite.com
Saxena White P.A.
10 Bank Street, Suite 882
White Plains, New York 10606
Tel.: (914) 437-8551
Fax: (888) 631-3611
www.saxenawhite.com

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