Coinbase CLO Paul Grewal Named in Securities Suit Against Cryptocurrency Company

Coinbase and several top executives were hit with a securities class action Thursday in California Northern District Court over the company’s direct listing on the Nasdaq. The suit, filed by Scott + Scott, accuses Coinbase insiders of misleading investors regarding the company’s financial health and the resiliency of its cryptocurrency trading platform. The suit brings claims against several Coinbase officers and directors, including CLO Paul Grewal, and its venture capital backers. Counsel have not yet appeared for the defendants. The case is 3:21-cv-05634, Ramsey v. Coinbase Global, Inc. et al.

This suit was surfaced by Radar, a source for high-speed legal news and litigation updates personalized to your practice. Radar publishes daily updates on just-filed federal cases like this one. Click here to get started and be first to know about new suits in your region, practice area or client sector.