NEW YORK :A U.S. judge on Wednesday dismissed a lawsuit accusing Coupang, an e-commerce company sometimes referred to as the Amazon of South Korea, of defrauding shareholders during and after its 2021 initial public offering.
U.S. District Judge Vernon Broderick in Manhattan said none of Coupang’s challenged statements and omissions were materially misleading, and the plaintiffs brought some claims too late.
Broderick dismissed the lawsuit led by several New York City public pension funds with prejudice, meaning the lawsuit cannot be brought again.
