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GME.US
id: 1275

GameStop (GME) Price Manipulation Case

E.D. New York
Court
1:24-cv-04608
Case number
13 May 2024
Class period Start
13 Jun 2024
Class period End
The complaint alleges that the major shareholder and influencer, Keith Patrick Gill, engaged in a pump-and-dump scheme involving GameStop stock.

He secretly bought a large number of GameStop call options at low prices before posting on social media on May 12, 2024, which boosted the stock's value.

After the prices dropped, he again posted on June 2, 2024, showing his large GameStop holdings, causing the stock to rise again.

By June 13, 2024, he sold all his call options for a big profit and increased his GameStop stock holdings by over 4 million shares, only revealing this to investors after the fact.

This manipulation allegedly led to significant financial losses for other investors.
Case Status
Voluntary Dismissed
Alleged Offence
Misleading Statements
Financial Misrepresentation
Omissions
Suspected Party
Shareholder
Influencer
Security Type
Stocks
Trade Direction
Long
Shock Event Date
13 May 2024
Filing date
28 June 2024
Judge
Frederic Block
Collecting participants…

GameStop Corp

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new...

    Ticker
    GME.US
    ISIN
    US36467W1099
    CIK
    1326380
    Sector
    Consumer Cyclical
    Industry
    Specialty Retail
    Country
    USA
    Address
    625 Westport Parkway, Grapevine, TX, United States, 76051