All posts tagged: side-eyed-moon emoji

Emoji Are Legally Actionable – The Atlantic

Emoji Are Legally Actionable – The Atlantic

[ad_1] A court in Washington, D.C., has been stuck with a tough, maybe impossible question: What does ???? mean? Let me explain: In the summer of 2022, Ryan Cohen, a major investor in Bed Bath & Beyond, responded to a tweet about the beleaguered retailer with this side-eyed-moon emoji. Later that month, Cohen—hailed as a “meme king” for his starring role in the GameStop craze—disclosed that his stake in the company had grown to nearly 12 percent; the stock price subsequently shot up. That week, he sold all of his shares and walked away with a reported $60 million windfall. Now shareholders are suing him for securities fraud, claiming, in part, that Cohen misled investors by using the emoji the way meme-stock types sometimes do—to suggest that the stock was going “to the moon.” A class-action lawsuit with big money on the line has come to legal arguments such as this: “There is no way to establish objectively the truth or falsity of a tiny lunar cartoon,” as Cohen’s lawyers wrote in an attempt to …