Overview

• Ryan Cohen, CEO of GameStop, will pay a $985,320 penalty for violating the Hart-Scott-Rodino Act.
• Cohen failed to file required paperwork when his acquisition of Wells Fargo shares exceeded the $100 million threshold in 2018.
• The FTC found that Cohen's intent to influence Wells Fargo's business decisions disqualified his investment from being considered passive.
• Cohen sought a board seat and made business improvement suggestions to Wells Fargo's leadership, further indicating his intent to influence.
• The settlement, which Cohen agreed to without admitting wrongdoing, awaits federal judge approval.