- Court
- U.S. District Court for the District of Massachusetts
- Docket
- No. 3:21-cv-10264
- Parties
- Christian Iovin (individually and on behalf of a proposed class) v. Keith Patrick Gill (a/k/a Roaring Kitty)
- Claim type
- securities
- Filed
- 2021-02-18
- Outcome
- The proposed class action was voluntarily dismissed by the plaintiff without prejudice on April 14, 2021, less than two months after filing. No class was certified and the securities-manipulation claims against Gill were never adjudicated on the merits.
Summary
Christian Iovin, a Washington-state investor, filed this proposed securities class action against Keith Gill, the trader known as Roaring Kitty whose posts helped fuel the GameStop rally on Reddit's r/WallStreetBets. The complaint alleged that Gill misrepresented himself as an amateur investor while actually being a licensed securities professional formerly employed by MassMutual, and that his conduct manipulated the market for GameStop shares in violation of securities laws. Iovin said he sold roughly $200,000 in GameStop call options below $100 and had to buy them back after the stock surged past $400. The suit accused Gill of securities-law violations and stock-price manipulation.
Related issue
Sources
- 01
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