GameStop CEO Ryan Cohen settles with FTC for $1M over unreported $100M Wells Fargo shares acquisition in 2018.

GameStop CEO Ryan Cohen has agreed to pay nearly $1 million to settle a claim from the U.S. Federal Trade Commission (FTC) for failing to report his acquisition of over $100 million in Wells Fargo & Co. voting shares in 2018. The FTC noted Cohen intended to influence bank management and sought a board seat, which disqualified him from an investment-only exemption. He reported the transactions in 2021, and the settlement is pending federal approval.

September 18, 2024
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