The post Roaring Kitty Faces Securities Fraud Claims In A Class Action Suit Which Is Likely To Fail appeared first on Coinpedia Fintech News
Keith Gill, aka Roaring Kitty, is facing securities fraud claims in a class action lawsuit over his recent social media posts. The complaint filed on June 28, intends to sue Gill for orchestrating a ‘pump-and-dump’ scheme with a series of social media posts beginning May 13. The complaint alleges that Gill committed securities fraud by …
The post Roaring Kitty Faces Securities Fraud Claims In A Class Action Suit Which Is Likely To Fail appeared first on Coinpedia Fintech News
Keith Gill, aka Roaring Kitty, is facing securities fraud claims in a class action lawsuit over his recent social media posts. The complaint filed on June 28, intends to sue Gill for orchestrating a ‘pump-and-dump’ scheme with a series of social media posts beginning May 13. The complaint alleges that Gill committed securities fraud by failing to adequately disclose the purchase and sales of his GameStop options calls, which allegedly misled his followers and resulted in losses for some investors. However, a former federal prosecutor believes the lawsuit will likely fail
