Cohen linked the two in various tweets over the past few days. SuperStonk has been going nuts looking into the connections. It seems that BCG is brought in as a consulting group for a lot of companies. They get paid an exorbitant amount of money, then recommend that the company brings in new leadership on its board. The new board members get paid a mint. Companies often take out loans to do so. And then the board drives the companies into the ground. The whole while, Citadel and other bad boys are shorting those companies, and the BCG consultants are working for Citadel on the side- a lot of them end up with cushy jobs at Citadel after they're done tanking their clients' companies.
It's a real mess. Apparently, GameStop brought in BCG before Cohen was there. There is a lawsuit where BCG is suing GME for not paying their bill. Cohen's gag-order is up, so he's lighting those predatory assholes up on Twitter. Apparently the same thing has happened to numerous big companies that have been shorted out of existence, like Toys R Us.
Cohen linked the two in various tweets over the past few days. SuperStonk has been going nuts looking into the connections. It seems that BCG is brought in as a consulting group for a lot of companies. They get paid an exorbitant amount of money, then recommend that the company brings in new leadership on its board. The new board members get paid a mint. Companies often take out loans to do so. And then the board drives the companies into the ground. The whole while, Citadel and other bad boys are shorting those companies, and the BCG consultants are working for Citadel on the side- a lot of them end up with cushy jobs at Citadel after they're done tanking their clients' companies.
It's a real mess. Apparently, GameStop brought in BCG before Cohen was there. There is a lawsuit where BCG is suing GME for not paying their bill. Cohen's gag-order is up, so he's lighting those predatory assholes up on Twitter. Apparently the same thing has happened to numerous big companies that have been shorted out of existence, like Toys R Us.
This right here ☝️. Nice summary.
Thank you!
Excellent synopsis!