Coinbase Faces Lawsuit for Insider Info. and Privacy Violations
The investor filed the complaint on Monday, May 1, in Delaware Chancery Court. Furthermore, the investor argues that the company’s board went for direct listing instead of a typical public listing through an initial public offering. Also, Coinbase rapidly sold off $2.9 billion in stock before Coinbase management later revealed: “material, negative information that destroyed market optimism from the company’s first quarterly earnings release forward”. advertisement In the derivative complaint filed in the Delaware court, the investor seeks the return of “ill-gotten gains” from Coinbase co-founder Brian Armstrong. The lawsuit also names other Coinbase executives along with the co-founder of VC giant Andreessen Horowitz. Coinbase and Customer Privacy Violations On Monday, there was another lawsuit filed against Coinbase in federal court in San Francisco. The lawsuit accesses Coinbase for collecting fingerprints and face templates ...