GameStop Faces Suit to Delay July 7 Vote on Ryan Cohen's $35 Billion Pay Package
Updated
Updated · Barchart · Jun 20
GameStop Faces Suit to Delay July 7 Vote on Ryan Cohen's $35 Billion Pay Package
3 articles · Updated · Barchart · Jun 20
Summary
A GameStop shareholder sued to postpone the July 7 vote on CEO Ryan Cohen’s compensation plan, which could deliver an incentive award worth up to $35 billion.
The filing accuses the company of a “bait-and-switch,” alleging GameStop changed voting rules and used a misleading proxy statement in seeking shareholder approval.
The challenge lands as GameStop reports one of its strongest quarters in years, with first-quarter net sales up 14% to $835.3 million and cash, cash equivalents and marketable securities at about $8.4 billion.
That financial rebound has helped the stock gain 7.17% in 2026, but the lawsuit sharpens scrutiny of governance and Cohen’s influence as investors weigh turnaround progress against a premium valuation.