Cryptocurrency exchange Coinbase Global Inc. has been accused of misleading investors regarding its public listing, as per a new shareholder derivative lawsuit.
What Happened
Coinbase and nine of its executives allegedly breached fiduciary duties, violated the securities act, and issued false and misleading statements concerning its direct listing, according to a shareholder complaint filed on Aug 4.The executives’ names in the lawsuit include CEO Brian Armstrong, CFO Alesia Haas, and board member and a16z co-founder Marc Andreessen.
