On Wednesday, the Federal Trade Commission 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 Act by failing to file the necessary paperwork during his acquisition of shares in Wells Fargo & Company (NYSE:WFC).

CEO Ryan Cohen will pay a $985,320 civil penalty to settle charges that his acquisition of Wells Fargo & Company (WFC) shares violated the Hart-Scott-Rodino Act. According to the complaint, Cohen, who is also the founder and former CEO of Chewy (CHWY),

GameStop CEO Ryan Cohen agreed to pay a nearly $1 million penalty to settle the U.S. Federal Trade Commission's claim that he failed to report acquisition of more than $100 million worth of Wells Fargo & Co voting shares,

After acquiring the shares, Cohen had periodic communications with Wells Fargo’s leadership regarding ways to improve the bank’s business and to advocate for a potential board seat, the FTC said.

Gamestop Corp. Chief Executive Officer Ryan Cohen will pay almost a $1 million penalty over allegations that he violated antitrust law with his acquisition of shares in Wells Fargo & Co.

Ryan Cohen had amassed more than $100 million in Wells Fargo shares, the threshold for disclosure under the Hart-Scott-Rodino Act. But he didn''t submit the required filing until January 2023.

Cohen failed to notify the U.S. FTC as required when he amassed shares above the $100-million threshold in 2018, the agency said

The US Federal Trade Commission (FTC) on Wednesday announced that Chairman and CEO of GameStop Corp Ryan Cohen would pay around $1 million civil penalty to settle charges of an antitrust law violation related to his acquisition of Wells Fargo shares.