The complaint alleges that Genius Group violated the Securities Exchange Act of 1934 by issuing false and misleading statements to shareholders. According to the legal filing, company insiders engaged in deceptive trading practices designed to create a false impression of liquidity and demand for its securities. These actions allegedly misled the public regarding the company's true market position throughout the specified three-year period.
Investors Target Genius Group Over Alleged Market Spoofing Scheme
A class action lawsuit filed against Genius Group Limited accuses the company of orchestrating a spoofing scheme to artificially inflate market activity. Investors who purchased GNS shares between April 12, 2022, and May 30, 2025, now face an August 28, 2026, deadline to join the litigation seeking recovery for their losses.
The DJS Law Group, led by David Schwartz, is currently soliciting participants for the suit. While shareholders may seek appointment as lead plaintiff to represent the class, the firm notes that such a role is not a prerequisite for individual investors to participate in any potential financial recovery. The litigation specifically targets violations of Rule 10b-5, which prohibits the employment of manipulative and deceptive devices in connection with the purchase or sale of any security.
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