A Massachusetts Mutual Life Insurance Co. subsidiary agreed to pay a $4 million fine to settle an inquiry from Massachusetts securities regulators into the social-media and trading activity of its employees, including well-known GameStop Corp. investor Keith Gill.
Mr. Gill, known as “Roaring Kitty” on YouTube and “DeepF—ingValue” on Reddit, became an Internet folk hero in January, thanks to his prescient bets on GameStop stock. For months leading up to the GameStop trading frenzy in January—during which nonprofessional traders sent the company’s shares soaring to a record high—Mr. Gill posted videos and messages discussing why he was putting large sums of money into the stock.
MassMutual Fined Over Social-Media, Trading Activity of Employees, Including GameStop Trader Keith Gill Source link MassMutual Fined Over Social-Media, Trading Activity of Employees, Including GameStop Trader Keith Gill