GameStop

Roaring Kitty

Kitty

<p>A class-action lawsuit against online investor Keith Gill, popularly known as “Roaring Kitty,” was dropped barely three days after it was filed.</p>
<p>The lawsuit filed by GameStop shareholder Martin Radev last Friday accused Gill of securities fraud and running a “pump-and-dump” scheme for the GameStop stock.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">JUST IN 🚨: Lawsuit against Roaring Kitty, a.k.a. Keith Gill, for his alleged role in promoting GameStop <a href="https://twitter.com/search?q=%24GME&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$GME</a>, has been dismissed <a href="https://t.co/RqWWUGHkmO" rel="noopener noreferrer nofollow">pic.twitter.com/RqWWUGHkmO</a></p>
 <p>— Barchart (@Barchart) <a href="https://twitter.com/Barchart/status/1807871036223889498?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 1, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The plaintiff withdrew the lawsuit on Monday without any explanation, and it has been dismissed without prejudice. The <a href="https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/ryHEdGmtzIag/v0" target="_blank" rel="noopener noreferrer nofollow">court filing</a> shows that the lawsuit can be refiled in the future.</p>
<p>Gill is known for his role in the GameStop short-squeeze saga back in 2021. He disappeared from social media for almost three years, but resurfaced earlier this year with a series of posts on X.</p>
<p>GameStop (GME) stock dropped 5% yesterday on the news and the GameStop (GME) crypto token is down more than 3% in the same period.</p>
<h2 id="roaring-kitty-accused-of-stock-manipulation">Roaring Kitty Accused of Stock Manipulation</h2>
<p>Radev had accused Gill of manipulating the price of GameStop securities between May 13 and June 13. The plaintiff says Gill accumulated GME stock and call options before dumping some of these holdings in the market.</p>
<p>The <a href="https://storage.courtlistener.com/recap/gov.uscourts.nyed.517255/gov.uscourts.nyed.517255.1.0_1.pdf" target="_blank" rel="noopener noreferrer nofollow">lawsuit </a>stated that Gill’s trading activities triggered GME’s price volatility. While Gill made millions of dollars in profits, other GameStop shareholders suffered losses.</p>
<p>“Defendant still enjoys celebrity status and commands a following of millions through his social media accounts,” the lawsuit said. “The defendant was well aware of his ability to manipulate the market for GameStop securities, as well as the benefits he could reap.”</p>
<p>The recent lawsuit was filed barely a month after <a href="https://insidebitcoins.com/news/massachusetts-securities-regulator-investigates-roaring-kitty-over-trading-practices-as-gamestop-meme-coins-slump" target="_blank" rel="noopener noreferrer nofollow">reports </a>that the Massachusetts Securities Regulator was investigating Gill’s trading activities in GME stock.</p>
<h3 id="also-read">Also Read:</h3>
<ul>
 <li><a href="https://insidebitcoins.com/news/roaring-kitty-keith-gill-becomes-chewys-third-largest-individual-shareholder-with-6-6-stake" rel="noopener noreferrer nofollow">”Roaring Kitty” Keith Gill Becomes Chewy’s Third Largest Individual Shareholder With 6.6% Stake</a></li>
 <li><a href="https://insidebitcoins.com/news/chewy-price-prediction-chewy-skyrockets-167-after-roaring-kitty-reveals-stake-as-stragglers-buy-ico-sealana-with-only-hours-left-to-launch" rel="noopener noreferrer nofollow">CHEWY Price Prediction: CHWY Skyrockets 497% After Roaring Kitty Reveals Stake As Traders Rush To Buy Sealana With Only Hours Left To Launch</a></li>
 <li><a href="https://insidebitcoins.com/news/top-crypto-gainers-today-jul-02-mantra-dao-metaplex-helium-astar-network" rel="noopener noreferrer nofollow">Top Crypto Gainers Today Jul 02 – MANTRA DAO, Metaplex, Helium, Astar Network</a></li>
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Lawsuit Against GameStop Trader Roaring Kitty Is Dropped After Just Three Days

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Inside Bitcoins

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