Delaware Court Lets Coinbase $2.9 Billion Insider Trading Case Move Forward After Committee Review

On a Friday ruling in Delaware, Judge Kathaleen St. J. McCormick allowed a shareholder lawsuit accusing several Coinbase directors of insider trading tied to $2.9 billion in stock sales from the April 2021 direct listing to proceed. The case, brought in 2023 by investor Adam Grabski, challenges a special litigation committee’s 10-month investigation that had cleared figures including Marc Andreessen and CEO Brian Armstrong, arguing conflicts around one committee member undermined the review.

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