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Stock impact report

Why Coupang (CPNG) Stock Is Trading Lower Today [Yahoo! Finance]

Coupang, Inc. Class A (CPNG) 
Company Research Source: Yahoo! Finance
Shares of online platform company Coupang (NYSE:CPNG) fell 2.2% in the afternoon session after its CEO, Park Dae-jun, announced his resignation as he took responsibility for a massive data breach. The breach was described as one of the worst in South Korea's history, exposing the personal information of over 33 million customers. In a statement, the departing CEO said he was stepping down after feeling a "heavy sense of responsibility for the incident." Following the news, South Korean police raided the company's Seoul headquarters. The company also faced mounting legal pressure as a U.S. law office prepared a class-action lawsuit. Coupang appointed its General Counsel and Chief Administrative Officer, Harold Rogers, as the interim CEO. Show less Read more
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