Keith Gill, the stock trader known for his role in the 2021 GameStop frenzy, is facing securities fraud claims.
A class-action lawsuit filed on June 28 in the Eastern District of New York accuses Gill of organizing a “pump and dump” scheme through several social media posts that caused GameStop (GME) stock prices to fluctuate wildly between May and June 2024.
“Roaring Kitty” Accused of Manipulating GME Stock Price
The complaint alleges that “Roaring Kitty,” used his social media influence to manipulate GameStop’s stock price for personal gain.
According to the filing, Gill began purchasing GameStop call options on E*Trade on May 12, 2024, at relatively low prices. The next day, he caused interest in GameStop by posting on X for the first time in nearly three years, which boosted the stock’s value.
On June 2, 2024, Gill posted on Reddit, disclosing his holdings in GameStop securities, including 120,000 call options and 5 million shares of stock. This post also sent GameS
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