Reported by TOM MITCHELHILL

A GameStop investor who sued Keith Gill, known as Roaring Kitty, over alleged securities fraud, dropped his lawsuit just three days after filing it. 

Plaintiff Martin Radev dropped the suit after submitting a voluntary motion to dismiss in the United States District Court for the Eastern District of New York.

It is unclear why the lawsuit was dropped so quickly, and the law firm representing Radev — Pomerantz Law — did not immediately respond to Cointelegraph’s request for comment. 

The suit was dropped “without prejudice,” meaning that Radev can file a similar lawsuit again in the future. 

The lawsuit was first filed on June 28, with Radev alleging that Gill had used his influence on social media to orchestrate a “pump and dump” scheme that artificially inflated the price of GameStop shares for his own financial benefit, causing investor losses in the process.

Radev alleged that Gill had committed securities fraud by failing to inform his followers and other GameStop investors that he planned to sell some 120,000 call options before their June 21 expiration date. 

In a June 30 blog post, Eric Rosen, a former federal prosecutor and founding partner at the law firm Dynamis, said the lawsuit rested on three main arguments that could be easily shot down by a “well crafted” motion to dismiss from Gill.

Read full report: https://cointelegraph.com/news/roaring-kitty-fraud-lawsuit-gamestop-investor-dropped-three-days