Nathaniel J. Stuhlmiller of Richards Layton & Finger. Courtesy photo 'Grabski v. Andreessen': Chancery Addresses 'Brophy' Claims Against Officers and Directors in a Direct Listing
In Grabski v. Andreessen, the Delaware Court of Chancery declined to dismiss fiduciary claims against officers and directors of Coinbase Global, Inc. who sold shares in a going-public transaction.
February 14, 2024 at 09:00 AM
6 minute read
Contributors
In Grabski v. Andreessen, C.A. No. 2023-0464-KSJM (Del. Ch. Feb. 1, 2024), the Delaware Court of Chancery declined to dismiss fiduciary claims against officers and directors of Coinbase Global, Inc. who sold shares in a going-public transaction. In the opinion, the court, which has in recent years decided a number of cases involving companies going public via de-SPAC mergers, addressed fiduciary principles in the context of another alternative to a traditional initial public offering: the direct listing.
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