Keith Gill, also known as “Roaring Kitty,” is facing securities fraud charges in a class-action lawsuit related to GameStop. It is alleged that his social media posts caused fluctuations in GameStop’s stock price from May to June. The claim was filed on June 28, 2021, in the Eastern District of New York, centered around Gill and his notorious short-selling of GameStop stock in 2020. In May, Gill made his first public appearance in three years on his Twitter account, indicating renewed interest in GameStop stock. Read more: 
Where will Warren Buffett’s wealth go after his passing? In early June, Gill revealed on Reddit that he had acquired a large number of GameStop shares, totaling 50,000, as well as 1.2 million call options with a strike price of $20. This announcement led to a surge of over 13% in the stock price during pre-market trading on June 3. On April 26, it was disclosed that Gill had purchased an additional 100,000 shares of GME stock worth $20 million. According to court documents, Roaring Kitty is accused of failing to properly disclose his buying and selling activities regarding GameStop call options, which allegedly misled his followers and caused some investors to suffer losses. Represented by the law firm “Pomerantz,” plaintiff Martin Radev claims that he fell victim to the so-called “pump and dump” scheme, purchasing a total of 25,000 shares of GME stock and three call options since mid-May. 