SINGAPORE, June 30, 2026 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) ("Genius Group", "GNS" or the "Company"), a leading AI-powered education group, has been notified that a class action lawsuit has been filed by its investors against Citadel Securities LLC and Virtu Americas LLC in the United States District Court Southern District of Florida.
The complaint (Case No 1:26-cv-24485-XXXX), filed on June 29, 2026, is a class action lawsuit with Aron Reynolds named as Lead Plaintiff, individually and on behalf of all others similarly situated, vs Citadel Securities LLC and Virtu Americas LLC.
The complaint alleges that Citadel Securities LLC, and Virtu Americas LLC (the "Defendants") engaged in a long-running market manipulation scheme that includes spoofing and naked short selling of the Company’s shares and related acts in violation of Section 10(b), Sections 9(a)(2) and 9(e) and Section 20(a) of the Securities Exchange Act of 1934.
A separate Class Action Complaint in the United States District Court for the Southern District of New York against the same Defendants in which the Company was named as Lead Plaintiff (Case No.1.25-cv-09546-VEC) has been voluntarily dismissed.
The Company has notified the law firms leading the Florida class action that it intends to join the class action as a plaintiff class member. The Company has previously announced that its legal team and experts have identified over $250 million in damages to the company caused by alleged market manipulation.
The Company and its legal team will continue to provide updates to its shareholders on this case as appropriate.
About Genius Group
Genius Group (NYSE: GNS) is a global education group delivering AI powered, education and acceleration solutions for the future of work. Genius Group serves 6 million users in over 100 countries through its Genius City model and online digital marketplace of AI training, AI tools and AI talent. It provides personalized, entrepreneurial AI pathways combining human talent with AI skills and AI solutions at the individual, enterprise and government level. To learn more, please visit geniusgroup.ai
Forward-Looking Statements
Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the use of words such as “may,” “will”, “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company's Annual Reports on Form 20-F, as may be supplemented or amended by the Company's Reports of a Foreign Private Issuer on Form 6-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise. No information in this press release should be construed as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.
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