South Korea online retailer Coupang faces US securities class action over massive data breach


FILE PHOTO: Delivery trucks for e-commerce retailer Coupang leave a distribution centre in Seoul, South Korea, June 21, 2018. REUTERS/Josh Smith/File Photo

WASHINGTON, Dec 22 (Reuters) - ‌South Korean e-commerce company Coupang has been sued in a U.S. court ‌in an investor class action alleging violations of securities laws after ‌a cybersecurity breach exposed personal information of more than 33 million customers.

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 about ‍the company’s data security practices ‌and failed to disclose the breach in a timely way.

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