Coupang Board, Executives Sued Again for Misleading IPO Filings

Coupang Inc.’s top executives and directors misrepresented its working conditions, third-party merchant relationships, and customer protections in documents related to its 2021 initial public offering, a shareholder derivative suit says.

The e-commerce company filed a registration statement that failed to disclose several important details about its operations, which were later revealed by reports a Coupang employee died on the job, according to the complaint filed Tuesday in the US District Court for the Southern District of New York.

Coupang omitted from its IPO filings any information about unsafe working conditions, anti-competitive practices with third-party suppliers, manipulation of search algorithms ...