Massachusetts fines MassMutual $4.75 mln in 'Roaring Kitty' case

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A MassMutual investment subsidiary has agreed to pay $4.75 million to resolve allegations by Massachusetts securities regulators including that it failed to supervise its agents, among them the social media persona 'Roaring Kitty,' whose online posts helped spark January's trading frenzy in GameStop Corp shares.

Keith Gill, an individual online investor in GameStop, testifies during an entirely virtual hearing of the U.S. House of Representatives Committee on Financial Services entitled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide?”, in Washington, February 18, 2021. House Committee on Financial Services/Handout via Reuters

Galvin, the state's top securities regulator, alleged MassMutual also inadequately supervised other agents and failed to review their social media usage or catch excessive trading in their personal accounts. He began sharing his positions on Reddit's popular Wallstreetbets trading forum in September 2019, posting a portfolio screenshot indicating he had invested $53,000 in GameStop.

 

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Shocking , fuck then mmm

The blame game.

Why would Keith invest in a crappy mic

Whoever wrote that article is terrible at math and analyzing the data. All of those figures are incorrect lmfao.

Can someone make the long story short recap it I don't have mind to read the entire article

They didn't fine Roaring Kitty tho!

As in the state of Massachusetts? Why lol

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