GameStop Corporation Common Stock (NYSE: GME)
Plaintiff files this action on behalf of all those individuals and entities who during the period of January 22, 2021 through February 2, 2021, (i) either (a) purchased GameStop shares (b) purchased back an option on GameStop shares, (c) had an option for GameStop shares called away from them, (d) purchased GameStop shares to cover a short position, or (e) had their options expire, and (ii) suffered losses as a result of any transactions identified by clauses (a)-(e) of the Complaint.
The Complaint alleges that the individual Defendant used multiple identities to promote GameStop stock on social media. GameStop stock traded around $20 in the middle of January, 2021, then soared to a record high of $483 just after trading began on January 28, 2021, allegedly as the result of the individual Defendant’s conduct.
The case seeks to recover damages caused by Defendants’ alleged violations of the federal securities laws.