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GNS.US
id: 1365

Genius Group (GNS) Merger Issues Case

S.D. New York
Court
1:24-cv-07551
Case number
12/01/2023
Class period Start
09/25/2024
Class period End
12/04/2024
Lead Plaintiff motion deadline
  • $GNS stockholders filed a claim against Genius Group for concealing key details of the merger agreement.
  • After the disclosure on September 24, 2024, $GNS dropped by over 11%.
  • Genius Group investors can join this case to be notified about potential recovery.
Case Details:

The merger between Genius Group and FatBrain AI was announced in January 2024 and completed in March 2024.

On September 24, 2024, Genius Group revealed issues with the recent merger deal.

The company discovered that key executives had mismanaged the merger, leading to possible fraud.

As a result, GNS fired Peter Ritz and began investigating both Michael Moe and Ritz.

Based on these events, $GNS stockholders filed a claim against Genius Group and its leadership, accusing them of the following:
  • The merger was part of a fraudulent scheme designed to benefit the individual defendants.
  • They deceived stockholders by hiding key details of the agreement.
  • The companies’ press releases and SEC filings about the merger included false information and omitted important facts.
Considering all these representations, investors believe Genius Group concealed key details of the merger agreement and omitted important facts.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements
Financial Misrepresentation
Fraud
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09/26/2024
Filing date
10/04/2024
Lead Plaintiff Deadline
12/04/2024
Judge
Hon. Mary Kay Vyskocil
Collecting participants…

Genius Group Ltd

Genius Group Limited provides entrepreneur education system business development tools and management consultancy services to entrepreneurs and entrepreneur resorts. The company operates through tw...

    Ticker
    GNS.US
    ISIN
    SGXZ34583559
    CIK
    1847806
    Sector
    Consumer Defensive
    Industry
    Education & Training Services
    Country
    USA
    Address
    No. 01-01, 8 Amoy Street, Singapore, Singapore, 049950