Gamestop CEO Fined $1 Million by FTC Over Wells Fargo Shares

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.

Cohen failed to file a form he was required to submit to antitrust agencies under the Hart-Scott-Rodino Act after his Wells Fargo share purchases exceeded a certain threshold, according to a statement Wednesday from the Federal Trade Commission.

As he amassed those shares, Cohen periodically emailed Wells Fargo’s leadership — including its chief executive officer — with suggestions to improve its business and to seek a board ...