Coinbase Insider Trading Lawsuit Advances Despite $2.9B Stock Sale Defense

A Delaware judge ruled Friday that a shareholder lawsuit alleging insider trading by Coinbase directors can proceed, rejecting a special committee’s recommendation to dismiss the case despite its 10-month investigation clearing the defendants. The decision affects several high-profile directors, including venture capitalist Marc Andreessen and CEO Brian Armstrong, who collectively sold over $2.9 billion in stock during the company’s April 2021 direct listing. According to Bloomberg Law, Judge Kathaleen ...