According to Foresight News, a class action lawsuit against Keith Gill, also known as Roaring Kitty, was withdrawn just three days after it was filed, having only spent one working day in court. The reasons for the rapid withdrawal of the lawsuit remain unclear, and it cannot be ruled out that the plaintiffs may file a similar lawsuit against Gill in the future.
Previously, Foresight News reported that Roaring Kitty made a profit of $78.6 million on GME stocks and bullish options in just one day. Investors accused him of implementing a 'pump and dump' scheme from May 13 through a series of social media posts. It was alleged that he did not fully disclose his purchase and sale of GameStop options, misleading his followers and causing some investors to suffer losses, thereby constituting securities fraud.