In a recent settlement with the Federal Trade Commission (FTC), Ryan Cohen, founder of Chewy and current Chairman and CEO of GameStop Corp., has agreed to pay

Ryan Cohen, GameStop CEO and founder of Chewy, has agreed to pay a $985,320 fine for violating the Hart-Scott-Rodino Act during his acquisition of Wells Fargo shares, according to the FTC.

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

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.

Cohen agreed to the settlement with the FTC without admitting any wrong doing. The settlement isn’t final until a federal judge approves it.