New lawsuit accuses Coinbase executives of misleading shareholders over listing

A Coinbase shareholder is seeking damages on behalf of the company against nine company executives and board members. CEO Brian Armstrong is one of the defendants in a new lawsuit that seeks compensation from Coinbase executives for damages caused to the company. Donald Kocher is filing a lawsuit on behalf of Coinbase Global, Inc., alleging that the company’s leadership made “false and misleading statements” in the company’s public filings ahead of its April 2021 direct listing, the company’s listing Allows investors to buy company stock on the Nasdaq stock exchange without the involvement of intermediaries such as Wall Street investment banks. Kirk charged nine former and current Coinbase executives, including CEO Brian Armstrong, CFO Alesia Haas, and board member Mark Anderson, with violating federal securities laws, abusing their positions, and causing financial harm to the company losses, and “serious mismanagement”. (coindesk)

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