On Wednesday, the Federal Trade Commission (FTC) said Ryan Cohen, managing partner of RC Ventures and Chairman and CEO of GameStop Corporation (NYSE:GME), will pay a $985,320 civil penalty.
This fine stems from charges that Cohen violated the Hart-Scott-Rodino (HSR) Act by failing to file the necessary paperwork during his acquisition of shares in Wells Fargo & Company (NYSE:WFC).
Cohen’s actions resulted in an acquisition that exceeded HSR filing thresholds, triggering the need for federal antitrust agencies to review the deal.
Also Read: GameStop Analyst Says Retailer Could Close All Stores, Operate As Bank To Manage Losses.
According to the FTC’s complaint, Cohen’s purchase of more than 562,000 Wells Fargo voting securities required him to file an HSR form ...
