

GameStop (GME) CEO Ryan Cohen Settles With the Federal Trade Commission (FTC) Over Antitrust Violations
GameStop (GME) CEO Ryan Cohen has settled with the Federal Trade Commission (FTC) over antitrust violations.
GameStop (NYSE:GME) CEO Ryan Cohen has settled with the Federal Trade Commission over antitrust violations. The United States regulatory agency accused Cohen of unlawfully acquiring Wells Fargo’s securities, leading to a 3% price decline in GME over 24 hours.
In a press release, the FTC announced that Cohen will pay a $985,320 civil penalty to settle all applicable charges. The agency said Cohen violated the Hart-Scott-Rodino Act, which mandates investors to report large securities acquisitions.
According to the complaint, Cohen acquired more than 562,000 Wells Fargo voting securities, prompting a need to file an HSR form with Federal antitrust regulators before finalizing the transaction.
Although Cohen’s acquisition of Wells Fargo securities was below the standard 10% threshold, it allegedly violated antitrust laws. Usually, the agency gives a 30-day window after a transaction has been reported to conduct an initial investigation.
During this time, the agency initiates a “second request” for additional information, making closing a transaction illegal. The FTC said Cohen intended to influence Wells Fargo’s business decisions with the securities purchase.
The agency added that Cohen's emails when he advocated for a board seat evidenced this. Subsequently, Cohen communicated periodically with Wells Fargo leadership, bringing ideas to improve the business.
Cohen joined GameStop’s Board of Directors in early 2021. Six months later, he was appointed Chairman. About a year ago, he was appointed CEO, taking over the video game retailer from Matt Furlong.
GME hovered at $19.7 at the time of writing after a 3% drop within the last 24 hours. The intraday decline adds to a more than 13% decrease experienced in the past month.
GameStop’s stock price jumped to $48.75 in May following the online return of meme stock influencer Keith Gill, a.k.a. Roaring Kitty. Roaring Kitty had a major influence on GameStop stock and the analogous GameStop token.
In mid-June, GameStop shares saw a 12.28% decline after Cohen discussed the video game retailer plans with the investors. Cohen emphasized cost reduction and profitability through a smaller network of stores with a wider selection of higher-value products.
In May and June, nearly $4 billion in shares were sold to fund the upcoming financial strategic update.
Gill was at the top of the drivers of the GME short squeeze of 2021. He disappeared from social media on June 19, 2021. After a three-year hiatus, he publicly appeared on May 13, 2024.
After his first appearance, the stock price spiked to 74.40% in a single day. Roaring Kitty last posted about his GameStop position on Reddit on June 13, roughly three months ago.
Gill began growing his online influencer presence in 2020, encouraging people to invest in GameStop, whose shares he had started buying the previous year. His preferred social media platforms were Reddit discussion boards and YouTube, where he shared films about his thoughts on financial markets and inexpensive stocks.
以上是GameStop (GME) CEO Ryan Cohen Settles With the Federal Trade Commission (FTC) Over Antitrust Violations的详细内容。更多信息请关注PHP中文网其他相关文章!

热AI工具

Undresser.AI Undress
人工智能驱动的应用程序,用于创建逼真的裸体照片

AI Clothes Remover
用于从照片中去除衣服的在线人工智能工具。

Undress AI Tool
免费脱衣服图片

Clothoff.io
AI脱衣机

Video Face Swap
使用我们完全免费的人工智能换脸工具轻松在任何视频中换脸!

热门文章

热工具

记事本++7.3.1
好用且免费的代码编辑器

SublimeText3汉化版
中文版,非常好用

禅工作室 13.0.1
功能强大的PHP集成开发环境

Dreamweaver CS6
视觉化网页开发工具

SublimeText3 Mac版
神级代码编辑软件(SublimeText3)

尽管所罗门承认比特币的波动性和投机性,但他表示“对于比特币是否会成为现实,他从未站在另一边”。

Spanish media giant Televisa-Univision says it has appointed Daniel Alegre to the role of chief executive officer, effective immediately.

在最近关于 X 的一篇文章中,Alpha Lions Academy 首席执行官、加密货币市场的知名人士 Edoardo Farina 分享了他对 2025 年的大胆预测,强调了可能重塑加密货币格局的关键发展。

在韩国区块链周期间,Ripple(XRP)首席执行官 Brad Garlinghouse 表示,稳定币 RLUSD 的推出已经非常接近了

法国检察官的一份新闻稿称,他可能会在周三获释,但市场对他届时能否出狱并不抱有信心。

老鲸鱼在牛市期间获利了结。他们的抛售将新的资金带入增持地址,从而提高了实际价格。

投资管理公司 VanEck 的首席执行官 Jan van Eck 在美国正在进行的 BTC 会议上强调了比特币的一些最显着的优点。

自 2024 年 1 月起加入该公司的 James Strudwick 已被任命为执行董事。