SEATTLE–(BUSINESS WIRE)–Hagens Berman announces that a class action lawsuit has been filed against Keith Patrick Gill (“Gill”), MML Investors Services, LLC (“MML”), and Massachusetts Mutual Life Insurance Company over the price manipulation of GameStop stock. The firm urges GME investors who have suffered losses to submit their losses now to learn if they qualify to recover their investment losses.
Hagens Berman’s GameStop Corp (NYSE: GME) Securities Class Action:
The class action, filed in the United States District Court for the District of Massachusetts, and captioned Iovin v. Keith Patrick Gill, et al., Case No. 1:21-cv-10264, is brought on behalf of all those individuals and entities who during the period of January 22, 2021 through February 2, 2021 (the “Class Period”), (i) either (a) purchased GameStop shares (b) purchased back an option on GameStop shares, (c) had an option for GameStop shares called away from them, (d) purchased GameStop shares to cover a short position, or (e) had their options expire, and (ii) suffered losses as a result of any transactions identified by clauses (a)-(e) (the “Class”).
The case seeks to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 9(a)(2)-(4), 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Defendants, and common law failure to supervise against MML and MassMutual.
If you are a member of the Class defined above you have until 60 days from this notice to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained here. Click here to discuss your legal rights with Hagens Berman.
“Investors from all walks of life were significantly damaged by the price manipulation incited by Keith Gill and his unsuspecting followers who hung on his every word. We are focused on what MML and Massachusetts Mutual knew about Keith Gill’s activities,” said Steve Berman, Hagens Berman managing partner. “Trades and social media of his magnitude does not go unnoticed.”
Lead Plaintiff Process: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased GME securities during the Class Period to seek appointment as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than April 19, 2021, which is the first business day on which the U.S. District Court for the District of Massachusetts is open that is 60 days after the publication date of February 16, 2021. Any member of the proposed Class may move the Court to serve as Lead Plaintiff through counsel of their choice. Members may also choose to do nothing and remain part of the proposed Class.
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