Investors in GameStop (GME.N) have temporarily withdrawn their claims against Keith Gill, also known as “Roaring Kitty,” who played a significant role in the company’s stock frenzy in 2021.
Led by Martin Radev in the Las Vegas area, investors accused Gill of manipulating GameStop securities between January 13 and XNUMX. They alleged that he quietly amassed a large number of shares and bullish call options, then sold some of his holdings after a three-year hiatus from social media.
Gill said he misled them with his “pump and dump” scheme involving the video game retailer. They further claim that Gill’s actions caused significant fluctuations in GameStop’s stock price, resulting in “millions of dollars” being sacrificed for his gain at their expense.
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The proposed class action lawsuit filed in the Brooklyn federal court in New York on Friday was voluntarily withdrawn on Monday without any explanation. Claims can be refiled according to the application submitted.
The law firm “Pommerantz” representing the investors’ company has not responded to requests for comment.
