The judge presiding over a class action lawsuit against Coinbase over allegations of insider trading has approved Coinbase’s motion to dismiss the suit.In March of 2018, Jeffrey Berk filed a class action lawsuit in the Northern District of California on behalf of himself and other investors against Coinbase. Specifically, the suit alleges that Coinbase had engaged in insider trading by alerting its own employees that Coinbase would fully support Bitcoin Cash at a later date, after publicly stating that they would not.The suit goes on to allege that regular customers only had their trades go through after prices were artificially inflated by this insider trading. To compensate for the ensuing losses, the aggrieved group is seeking restitution from Coinbase. On October 23, 2018, however, presiding judge Vince Chhabria granted a motion to dismiss the lawsuit against Coinbase, stating that “assessing whether Coinbase might have engaged in market manipulation or unfair business practices does not require ‘reference to the underlying agreement or interpretation of the parties’ contractual relationship.’” Chhabria went on to state that “a reader of the Complaint is thus left wondering what Coinbase should have done differently, or why the rollout of Bitcoin Cash would have gone more smoothly had Coinbase done whatever Berk thinks is appropriate.”Following allegations of insider trading, Coinbase launched an in... For Further Information Click on Below Button