I'm in no position to weigh in on the specifics of this one, but I could see how this type of tactics could indeed influence price for short-term profit taking.
Remember 911. There was unusual shorting activity in advance of the event. The authorities were looking into any connections. Bin Laden, being a supposed money man, was thought capable. Never heard about any findings. But, ever since, I have been keen to the possibility of individuals spiking the markets for manipulations. Happens all the time with pumps and dumps. Even happens from advanced notices of interviews, news articles, big-house trade recommendations, on and on. Insiders are always looking for ways to advantage themselves. Doesn't affect my trading much, nor my enthusiasm for it; but, I have been burnt a few times, and I'm always aware of the possibilities.
I know it would be hard to prove a connection between these law suits and stock price manipulation. If it were true, there probably are laws being broken. If not, the individual(s) involved could be the targets for countersuits. Hurt them in their own pocket books.
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