Coinbase was hit with another lawsuit this week, this time in the Court of Chancery by shareholders who want to hold directors liable for actions that have left both customers and investors at financial risk.
Two shareholders, represented by deLeeuw Law and Gainey McKenna & Egleston, have brought breach of fiduciary duty, waste of corporate assets and unjust enrichment claims against Coinbase’s eight board members, alleging they gained millions personally by selling Coinbase shares at artificially inflated prices since April 14, 2021, when Coinbase became the first cryptocurrency company ever to go public and was valued at $112 billion.
