Delaware judge allows Coinbase insider-trading suit; complaint cites $2.9 billion sales

On Friday, Judge Kathaleen St. J. McCormick permitted a shareholder lawsuit alleging insider trading by Coinbase directors, including Brian Armstrong, to proceed. The complaint says insiders sold $2.9 billion during the 2021 direct listing, including $291.8 million by Armstrong and $118.7 million via Andreessen Horowitz, even as a special committee later found no use of confidential information.