According to BlockBeats, on July 1, Martin Radev, a GMP call option holder, filed a lawsuit against Roaring Kitty in the Eastern District of New York on June 28 through his law firm Pomerantz. Radev accused Roaring Kitty of planning a "pump up and sell" plan through a series of social media posts starting on May 13.
However, Eric Rosen, a former federal prosecutor and founding partner of the law firm Dynamis LLP, said the lawsuit was “doomed from the start.” He argued that the argument that Roaring Kitty should have disclosed its intent to sell the options would not hold up in court because no “reasonable person, let alone a rational investor,” would have expected Roaring Kitty to hold all of its options until expiration.