Investors of GameStop (GME.N) have temporarily withdrawn their claims against Keith Gill, also known as “Roaring Kitty,” who played a significant role in the company’s stock frenzy in 2021.
Under the leadership of Martin Radev in the Las Vegas area, investors alleged that Gill manipulated GameStop securities between January 13th and X month X day. They claimed he quietly amassed a large number of shares and bullish options, then sold part of his holdings following a three-year hiatus from social media.
The investors accused Gill of deceiving them with his “pump and dump” scheme involving the video game retailer. They further alleged that Gill’s actions caused significant fluctuations in GameStop’s stock price, resulting in “millions of dollars” sacrificed for his gain at their expense.
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The proposed class action, filed on Friday in the federal court in Brooklyn, New York, was voluntarily withdrawn on Monday without explanation. Claims may be refiled based on the submitted application.
Boies Schiller Flexner LLP, representing the investors, did not respond to requests for comment.
