According to coindesk reports, Coinbase BCH on insider trading case, recently proposed a new collective litigation amendment. Insiders disclosed more Coinbase to BCH in December last year launched the details of profit from the exchange.
The file in 11 20 April submitted to the United States District Court for the Northern District of California. Which outlines why the plaintiff that Coinbase launched BCH to make false and deceptive speech “; allegedly hand BCH exchange prices, on the other hand down the price of BTC.
Action explained: “because of this plan, the internal personnel during publishing, selling at high prices to BCH, so that Coinbase get BCH inflated price difference.”
In December last year after the Arizona resident Jeffrey Berk filed a lawsuit to the federal court, the federal court in Berk has no legal basis to reject the lawsuit. When the Vince judge Chhabria said it is not clear what is the legal basis for Berk, he could not find evidence that what should be done when Coinbase.
Therefore, the revised complaint said, when the launch of BCH fails to comply with GDAX (now Coinbase Pro) token listing standards. This standard requires that investors know in advance when to allow bitcoin cash withdrawal, but coinbase was not in any warning under open drawing.
The plaintiff believes that when BCH listing, purchase recharge only allowed coinbase to slip, not allowed to cash, resulting in soaring prices. To the cost of compensation litigation is not clear, but said it will be determined in the trial, which will also include the costs incurred during the procedure.
This modified procedure documentation was within 21 days (11 Sept. 13) expires, but the plaintiff and the defendant have agreed to delay, allowing the plaintiff in the 11 month 20 days to re submit documents. In addition,
Coinbase must make a reply before December 20th, and the hearing has been scheduled to be held in January 31, 2019.
By then, it will be in the field of encryption, the encryption currency insider trading case.