Boston Consulting Group Slaps Lawsuit On GameStop Over Outstanding Fees: FT

Boston Consulting Group has prosecuted GameStop Corp GME over outstanding bills worth $30 million, the Financial Times reports.
BCG began working with GameStop in 2019 towards a corporate transformation.
GameStop share prices plummeted from a previous high of $55 to $3.32 by August 2019.
However, GameStop allegedly failed to take the actions to implement the turnaround plan and refused to pay.
Also Read: GameStop Says Has Learned From Past Mistakes: Touts Crypto, Blockchain
GameStop did not find it worthwhile to pay BCG, given their seemingly meager impact on the company's bottom line, and chose to fight the lawsuit.
GameStop ended 2021 with cash and equivalents worth $1.3 billion.
GameStop Chair Ryan Cohen increased his stake in the company to ~12%.
Price Action: GME shares traded lower by 3.19% at $136.50 in the premarket session on the last check Thursday.

Overview Rating:

Speculative

0100