Coinbase Slips Most Claims In Suit Over Bitcoin Cash Rollout
Law360 (August 7, 2019, 2:18 PM EDT) -- Cryptocurrency exchange Coinbase Inc. has escaped the majority of the claims brought by a proposed class of investors accusing it of artificially inflating bitcoin cash prices in a botched launch, after a California federal judge gutted the suit, leaving just part of one negligence claim alive.
U.S. District Judge Vince Chhabria on Tuesday also rejected the company's attempt to move the claims into arbitration, calling the question a "close one," but ultimately deciding Coinbase must face the surviving allegation in court.
The proposed class, led by named plaintiff Jeffrey Berk, contends that Coinbase negligently bungled the December 2017 launch of bitcoin...
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