The man who frenzied became a key player in the trading of GameStop stocks last month was hit by a class action lawsuit.Keith Gill, also known as 'Roaring Kitty' on YouTube, has been accused of fooling retail investors into buying inflated stocks while hiding his complex financial background.Mr Gill has ignored his impact and disputed claims he violated any law.He will testify on Thursday in Congress about a "Reddit rally".

The idea slotxo that I use social media to inadvertently promote GameStop shares to investors is inappropriate," Gill said in a prepared statement.I am very clear that my channel is for educational purposes only and my aggressive investment style is unlikely to be suitable for most people watching.Gill was accused of buying GameStop shares for $ 5 (£ 3.60) and then using social media to push the stock from about $ 20 in early January to more than $ 400 in just two weeks.This violates securities laws in dealing with markets, according to a lawsuit filed by Christian Iovin, a Washington state resident who bought GameStop stock options.

Mr Gill said he used publicly available data to determine GameStop was undervalued and shared this view with "small" according to social media before prices hit a high in January The lawsuit also identifies defendants in Massachusetts Mutual Life Insurance Co and its subsidiary MML Investors Services LLC, who hired Mr Gill until Jan. 28.The company told Massachusetts regulators it was unaware of Mr Gill's external activities.Grilling from the legislature A number of people involved in the so-called "Reddit rally" are scheduled to appear before Congress on Thursday, including Mr Gill.

Others called to testify are Wall Street hedge fund Melvin Capital, along with chief executives at Reddit. Robinhood's chief executive, a trading platform limiting purchases of GameStop shares to investors during the frenzy, is also expected to testify.The GameStop saga has been hailed as a children's victory against Wall Street hedge funds betting on GameStop, a video game retailer and other struggling businesses.But it is unclear what role hedge funds played in the rally, as many of them reportedly made millions from the GameStop rally.Shares closed 7 percent below $ 46 on Wednesday on the New York Stock Exchange.