Greenoaks and Altimeter Sue ROK Government to Protect Coupang
Greenoaks, along with Altimeter, filed two distinct actions to defend U.S. businesses and investors from what they claim are discriminatory acts and unfair trade practices by the Government of the Republic of Korea, or ROK. The actions follow sustained ROK Government interference in the Korean business operations of Coupang. The ROK Government's actions against Coupang appear designed to target, disable, and destroy an innovative American competitor to the apparent benefit of domestic and Chinese companies in the Korean market. In response, the U.S. Investors have served formal notice of their intent to file arbitration claims against the ROK Government under the U.S.-Korea Free Trade Agreement, or KORUS, which protects U.S. investors and companies against discriminatory acts and unfair trade practices. Separately, the U.S. Investors have petitioned the U.S. Trade Representative to investigate the ROK Government's unreasonable and discriminatory conduct under Section 301 of the Trade Act of 1974 and impose appropriate trade remedies. The investors claims that a multi-year pattern of selective government enforcement and escalating regulatory pressure singling out Coupang, marked by extraordinary investigations, audits, and on-site inspections that appear to far exceed the regulatory scrutiny imposed on domestic Korean and Chinese competitors. "False and defamatory claims" were made by the ruling Democratic Party of Korea, the DPK, administration about Coupang's limited and contained 2025 data incident. In the weeks following disclosure of the data incident, the DPK administration mounted a sweeping, multiagency campaign against Coupang. Senior DPK officials have publicly called for penalties and sanctions explicitly designed to force Coupang out of business. The DPK administration has also referred several Coupang executives for criminal prosecution. Billions of dollars in lost market capitalization as a result of the DPK administration's targeted and hostile interference followed the data incident.
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Coupang Faces Class Action Lawsuit Over Alleged Securities Fraud
- Lawsuit Background: Levi & Korsinsky LLP has notified investors that Coupang, Inc. is facing a class action lawsuit aimed at recovering losses for investors affected by alleged securities fraud between May 7 and December 16, 2025.
- Data Breach Allegations: The lawsuit claims that Coupang had inadequate cybersecurity protocols, allowing a former employee to access sensitive customer information for nearly six months undetected, thereby exposing the company to heightened regulatory and legal scrutiny.
- Disclosure Failures: When the company became aware of the data breach, it failed to report it in a timely manner as required by SEC regulations, resulting in materially false and misleading public statements throughout the relevant period.
- Investor Rights Protection: Affected investors have until February 17, 2026, to request to be appointed as lead plaintiff, with participation in the lawsuit at no cost, highlighting the firm's commitment to protecting investor rights.

Coupang Faces Lawsuit Over Data Breach
- Data Breach Incident: Coupang is accused of failing to detect a data breach affecting 33.7 million accounts for nearly six months, resulting in over $8 billion in market value loss, highlighting severe deficiencies in its cybersecurity controls.
- Compensation Plan: The company has initiated a compensation plan of up to 1.685 trillion won (approximately $1.2 billion) to restore customer trust, reflecting urgent needs in crisis management and financial strain.
- Executive Resignation: The resignation of CEO Park Dae-joon due to the data breach signifies a major shift in the company's governance structure, which may impact future strategic decisions and investor confidence.
- Regulatory Investigation: Coupang has acknowledged that Korean regulators are investigating the incident, indicating challenges in compliance and transparency that could lead to stricter regulatory requirements and potential legal repercussions.









