Coinbase shareholder Kevin Meehan filed a shareholder derivative lawsuit in the United States District Court for the District of New Jersey, accusing CEO Brian Armstrong, co-founder Fred Ehrsam, General Counsel Paul Grewal, President and COO Emilie Choi, and several directors and executives of issuing misleading information and breaching fiduciary duties from April 2021 to June 2023. The allegations involve disclosures of custodial asset bankruptcy risks, tokens that may qualify as securities, and anti-money laundering compliance deficiencies. This case is a shareholder derivative lawsuit; if awarded damages, the funds will go to Coinbase rather than directly to shareholders. (The Block)

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