The insider trading suit seems frivolous to me. This reminds of when Bitfinex tried to sue Wells Fargo for blocking their accounts and then retracted later.
Even if someone from Coinbase was buying ahead of the news, it most likely would have been done on offshore exchanges that don't do KYC, through TOR or some other masking service.
Not gonna catch 'em anyways!!
Even if they were, is there anything wrong with that? These exchanges are not regulated by the SEC are they?
I'm sure one of the many useless, corrupt federal agencies will step up to claim jurisdiction at some point.