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

Famous Reddit trader Keith Gill, also known as ‘Roaring Kitty,’ plans to fight back in Congress after being served a lawsuit for his role in the GameStop trading scandal that was at the forefront of our nation last month.

ADVERTISEMENT
Image
Katie Daviscourt Seattle WA
ADVERTISEMENT

Famous Reddit trader Keith Gill, also known as ‘Roaring Kitty,’  plans to fight back in Congress after being served a lawsuit for his role in the GameStop trading scandal that was at the forefront of our nation last month.

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.

ADVERTISEMENT
ADVERTISEMENT

Join and support independent free thinkers!

We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.

Support The Post Millennial

Remind me next month

To find out what personal data we collect and how we use it, please visit our Privacy Policy

ADVERTISEMENT
ADVERTISEMENT
By signing up you agree to our Terms of Use and Privacy Policy
ADVERTISEMENT
© 2024 The Post Millennial, Privacy Policy | Do Not Sell My Personal Information