Reported about 1 year ago
Keith Gill, also known as Roaring Kitty, is being sued in a class-action lawsuit filed in New York on June 28, accused of securities fraud related to the GameStop stock price fluctuations. The lawsuit alleges that Gill's online posts influenced the stock's movements, particularly in May and June, and suggests he orchestrated a 'pump and dump' scheme. Investors claim they were misled by Gill's actions, leading to financial losses. The suit highlights a significant transaction in mid-June where Gill exercised his options, making profits and buying more GameStop shares.
Source: YAHOO