[Coinbase Executives Accused of Selling $4.2 Billion in Stock at Inflated Prices] Coinbase shareholders have filed a lawsuit in Delaware, accusing company executives and investors, including CEO Brian Armstrong and board member Marc Andreessen, of concealing failures in KYC and anti-money laundering compliance, risks of data breaches, and regulatory investigations, while selling $4.2 billion worth of company stock at inflated prices. The plaintiffs claim that Coinbase was aware as early as January this year that hackers had obtained sensitive user information through a third-party customer service provider but did not disclose the data breach until May. Shareholders are seeking billions of dollars in damages, as well as board seats and greater influence over company policies. Additionally, Coinbase announced last month its plan to relocate its headquarters to Texas.
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