- Boston Consulting Group has prosecuted GameStop Corp (NYSE: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.
