Keith Patrick Gill, also known as “Roaring Kitty,” an investor in Gamestop stock, has been sued in the Eastern District of New York for allegedly committing securities fraud. The lawsuit alleges that Gill, using social media posts on X and Reddit, orchestrated a pump-and-dump scheme by manipulating the public to purchase Gamestop (GME) and then inadvertently got rid of a series of call options on GME shares. Gill’s posts on social media sites caused GME to rise from $17 to almost $50 on May 13, the day before Gill’s first social media interaction signaling a renewed interest in Gamespot. Gill’s posts on June 2 originated a similar reaction when he revealed he had 5 million GME shares and 120,000 GameStop call options expiring on June 21, 2024.
Gamestop Whale Roaring Kitty Sued for Securities Fraud
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