首页 网络3.0 GameStop (GME) CEO Ryan Cohen Settles With the Federal Trade Commission (FTC) Over Antitrust Violations

GameStop (GME) CEO Ryan Cohen Settles With the Federal Trade Commission (FTC) Over Antitrust Violations

Sep 20, 2024 am 06:41 AM
gamestop GME CEO FTC Penalties

GameStop (GME) CEO Ryan Cohen has settled with the Federal Trade Commission (FTC) over antitrust violations.

GameStop (GME) CEO Ryan Cohen Settles 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!

本站声明
本文内容由网友自发贡献,版权归原作者所有,本站不承担相应法律责任。如您发现有涉嫌抄袭侵权的内容,请联系admin@php.cn

热AI工具

Undresser.AI Undress

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

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

Undress AI Tool

免费脱衣服图片

Clothoff.io

Clothoff.io

AI脱衣机

Video Face Swap

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!

热工具

记事本++7.3.1

记事本++7.3.1

好用且免费的代码编辑器

SublimeText3汉化版

SublimeText3汉化版

中文版,非常好用

禅工作室 13.0.1

禅工作室 13.0.1

功能强大的PHP集成开发环境

Dreamweaver CS6

Dreamweaver CS6

视觉化网页开发工具

SublimeText3 Mac版

SublimeText3 Mac版

神级代码编辑软件(SublimeText3)

高盛首席执行官大卫·所罗门在接受 CNBC 采访时澄清了他对比特币的立场 高盛首席执行官大卫·所罗门在接受 CNBC 采访时澄清了他对比特币的立场 Jul 31, 2024 am 09:21 AM

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”。

Televisa-Univision Appoints Daniel Alegre as CEO, Wade Davis to Become Vice Chairman Televisa-Univision Appoints Daniel Alegre as CEO, Wade Davis to Become Vice Chairman Sep 19, 2024 pm 03:37 PM

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

Alpha Lions Academy 首席执行官 Edoardo Farina 分享了对 2025 年的大胆预测 Alpha Lions Academy 首席执行官 Edoardo Farina 分享了对 2025 年的大胆预测 Aug 24, 2024 pm 09:42 PM

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。

Ripple(XRP):加密货币公司首席执行官透露稳定币的推出已经非常接近 Ripple(XRP):加密货币公司首席执行官透露稳定币的推出已经非常接近 Sep 05, 2024 pm 06:46 PM

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

Polymarket 投注者表示,Telegram 首席执行官帕维尔·杜罗夫 (Pavel Durov) 可能在 10 月份获释 Polymarket 投注者表示,Telegram 首席执行官帕维尔·杜罗夫 (Pavel Durov) 可能在 10 月份获释 Aug 27, 2024 pm 06:48 PM

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。

比特币 (BTC) 牛市周期可能持续到 2025 年中期,小罗伯特·肯尼迪 (Robert Kennedy F. Jr.) 提出行政命令,要求美国政府每天购买 550 BTC 比特币 (BTC) 牛市周期可能持续到 2025 年中期,小罗伯特·肯尼迪 (Robert Kennedy F. Jr.) 提出行政命令,要求美国政府每天购买 550 BTC Jul 28, 2024 pm 07:06 PM

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。

VanEck 首席执行官 Jan van Eck 加倍押注比特币,称其投资组合'超过 30%”是比特币 VanEck 首席执行官 Jan van Eck 加倍押注比特币,称其投资组合'超过 30%”是比特币 Jul 27, 2024 pm 06:14 PM

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。

Starknet 基金会首席执行官迭戈·奥利瓦 (Diego Oliva) 在任职不到两年后辞职 Starknet 基金会首席执行官迭戈·奥利瓦 (Diego Oliva) 在任职不到两年后辞职 Aug 07, 2024 pm 03:29 PM

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