SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Reminds Gemini Space Station (GEMI) Investors of Securities Class Action Deadline on May 18, 2026
TMX Newsfile·2026-03-20 13:23

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Gemini Space Station, Inc. due to allegations of violations of federal securities laws, encouraging affected investors to contact them for legal options [2][4]. Group 1: Legal Investigation and Claims - The firm is reminding investors of the May 18, 2026 deadline to seek the role of lead plaintiff in a federal securities class action against Gemini [2]. - The complaint alleges that Gemini and its executives made false and misleading statements regarding the viability of its core business and international operations, leading to an overstated financial outlook [4]. - Investors who purchased Gemini securities during the specified class period are encouraged to discuss their legal rights with the firm [1]. Group 2: Financial Performance and Corporate Changes - Gemini's IPO occurred on September 12, 2025, with 15,178,572 shares issued at $28.00 per share, raising approximately $398.4 million before expenses [5]. - On February 5, 2026, Gemini announced a significant corporate pivot, including a 25% workforce reduction and exiting several international markets, which led to an 8.72% drop in stock price [7][8]. - Following the announcement of executive departures and preliminary financial results indicating a net revenue of $165 million to $175 million against operating expenses of $520 million to $530 million, the stock price fell by 12.9% [9][10].

SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Reminds Gemini Space Station (GEMI) Investors of Securities Class Action Deadline on May 18, 2026 - Reportify