‘Roaring Kitty’ sued for alleged ‘pump-and-dump’ scheme with GameStop stock
Meme stock icon “Roaring Kitty” allegedly duped his millions of internet followers with a “pump-and-dump” scheme by revealing his position in video game retailer GameStop without disclosing when he bought the options, according to a bombshell class-action lawsuit.
Keith Gill, the former financial analyst for MassMutual who sparked the meme-stock frenzy in 2021 by using his internet alter-ego Roaring Kitty, was slapped with a securities fraud suit by several GameStop shareholders in Brooklyn federal court.
Gill “engaged in a pump-and-dump scheme” by posting an item on Reddit in which he “belatedly reveal[ed]” to investors on June 13 that he amassed a considerable stake in GameStop, according to the claim, filed Friday.