Coinbase Faces Fresh Bitcoin Cash Insider Trading Lawsuit

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Users who filed a class action lawsuit against U.S. cryptocurrency exchange and wallet provider Coinbase will now go to court Jan. 31, 2019, new court documents filed Nov. 20 confirm.

The lawsuit, which Jeffery Berk filed earlier this year to address alleged insider trading of Bitcoin Cash (BCH) among Coinbase officials in 2017, failed to make it to trial in October.

As Cointelegraph reported, District Judge Vince Chhabria threw out Berk’s claims due to the failure to “describe the scope or content of Coinbase’s duty.”

Now, an amended version of the lawsuit focuses on the exchange purportedly falling foul of its own listing rules.

“The sudden launch (of BCH) was effectively part of an attack by Coinbase and (CEO Brian Armstrong) to depress the price of BTC and to inflate the price of BCH, to encourage more transactions and greater profitability for Coinbase,” the new filing reads.

Coinbase must respond by Dec. 20 prior to the initial hearing in January.

Source : https://cointelegraph.com