Coinbase and Its 'New World' Come Back Before Judge Chhabria
Bitcoin Cash users are doubling down on insider trading allegations in their second amended complaint against cryptocurrency exchange platform Coinbase.
April 24, 2019 at 06:13 PM
3 minute read
Coinbase will get a second at-bat this week as it attempts to avoid an insider trading lawsuit filed by investors over its currency exchange platform.
The investors' first attempt was thrown out by U.S. District Judge Vince Chhabria of the Northern District of California in October because the complaint did not provide a legal basis for its claims. The amended complaint, though, seeks to get past the initial hurdle by adding more plaintiffs and building on allegations that Coinbase intentionally lowered the price of bitcoin cash ahead of the launch to allow company insiders to reap the windfalls when its price reportedly surged 200 percent after trading began.
Thursday's hearing pits Robert Green of Green & Noblin and Lynda Grant of The Grant Law Firm for the investors against Coinbase's defense team from Keker, Van Nest & Peters.
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