WallStreetBets Redditor ‘Roaring Kitty’ to testify in front of US House of Representatives

Keith Gill, one of the most popular posters in the WallStreetBets community, is set to testify on Thursday in front of the US House of Representatives Committee on Financial Services; alongside Robinhood CEO Vlad Tenev, Citadel billionaire investor Ken Griffin, and others involved in the Reddit trading scandal.

The class-action lawsuit filed in Massachusetts federal court on Wednesday accuses the Redditor of purposefully creating millions of dollars of losses for retail investors by using online personas to attack hedge funds while increasing the price of GameStop.

In late-January, GameStop was at $483 per share, recently closing down 7.21 percent to $45.99 per share on Wednesday, the New York Post reported.

'Roaring Kitty' Keith Gill defended himself in a written testimony sent to the US House of Representatives Committee on Financial Services claiming that he is not the undercover trading mastermind that the lawsuit alleges him to be.

“Before I go further, I want to be clear about what I am not. I am not a hedge fund. I do not have clients, and I do not provide personalized investment advice for fees or commissions. I am an individual investor. My investment in GameStop and my posts on social media were entirely my own,” Gill said in the written testimony.

Gill defended himself explaining he creates videos and posts on social media primarily for educational purposes.

“The idea that I used social media to promote GameStop stock to unwitting investors is preposterous,” Gill said. “I was abundantly clear that my channel was for educational purposes only, and that my aggressive style of investing was unlikely to be suitable for most folks checking out the channel.”

The complaint against Gill alleges that he, “slyly targeted large hedge funds who had shorted GameStop stock as the evil, powerful big boys” and “characterized securities professionals as villains.”

Although 'Roaring Kitty' Keith Gill portrays himself as an independent investor with little to no experience, the lawsuit claims he is the exact opposite.

“For many years, he (Gill) actively worked as a professional in the investment and financial services,” the lawsuit said. “Gill is no amateur.”

The lawsuit against Gill provided a greater extensive background into who Roaring Kitty actually is, a “highly sophisticated and calculated investor” who is a registered stockbroker at MassMutual in Boston, MA.

The bank Mass Mutual is currently under investigation by Massachusetts regulators, according to New York Post.

The GameStop Reddit scandal was at the nation’s forefront last month.