GameStop CEO Ryan Cohen to Pay Nearly $1 Million for Antitrust Violation Involving Wells Fargo Shares

Sep 18, 2024, 04:04 PM

GameStop CEO Ryan Cohen has agreed to pay nearly $1 million to settle an antitrust law violation. The U.S. Federal Trade Commission (FTC) imposed the penalty after Cohen failed to file a Hart-Scott-Rodino (HSR) form upon acquiring over 562,000 shares of Wells Fargo. Cohen, who is also the managing partner of RC Ventures LLC, violated antitrust regulations by not disclosing his significant acquisition of Wells Fargo stock. The violation, related to a 6-year-old HSR form, involves both GameStop ($GME) and Wells Fargo ($WFC).