WASHINGTON (Reuters) – GameStop CEO Ryan Cohen has agreed to pay a fine of nearly $1 million to settle a U.S. Federal Trade Commission claim that he failed to report an acquisition of voting shares worth more than $100 million from Wells Fargo & Co, the agency said on Wednesday.

Cohen failed to notify the agency as required when he amassed shares above the $100 million threshold in 2018, the agency said. He had not only bought the shares as an investor, but had given bank management input on how to run the business and had sought a board seat, the FTC said.

He eventually reported the transactions to the FTC in 2021.

An attorney for Cohen did not immediately respond to a request for comment.

(Reporting by Jasper Ward and Doina Chiacu; Editing by David Ljunggren; Editing by David Gregorio)