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Genius Group files Federal Securities Class Action Lawsuit against Citadel Securities and Virtu Financial for Alleged Market Manipulation.
Globenewswireยท 2025-11-14 22:30
Core Viewpoint - Genius Group Limited has filed a Class Action Complaint against Citadel Securities LLC and Virtu Americas LLC, alleging a long-running market manipulation scheme involving spoofing and naked short selling of its shares, violating multiple sections of the Securities Exchange Act of 1934 [1][2][3]. Group 1: Allegations and Legal Actions - The lawsuit claims that the defendants engaged in a manipulative trading scheme for at least three years, from April 12, 2022, to May 30, 2025, involving thousands of spoofing trades that created a false impression of excess supply and volatility in Genius Group stock [3][7]. - Genius Group is seeking at least $250 million in damages due to the alleged market manipulation that led to artificially deflated stock prices [3][4]. - The company aims to recover losses not only for itself but also for all shareholders who sold stock at these manipulated prices, and it will request to be appointed as the "lead plaintiff" in the class action [6][8]. Group 2: Impact on Shareholders - The complaint emphasizes the commitment of Genius Group to protect shareholder interests and to expose unfair trading practices that have affected investors [4][5]. - The CEO of Genius Group highlighted the ongoing challenges faced by shareholders, including brokers restricting buying options while allowing selling, which further complicates the situation for investors [5][6]. Group 3: Company Overview - Genius Group is an AI-powered, Bitcoin-first education group serving 6 million users across over 100 countries, providing AI training and solutions tailored for individuals, enterprises, and governments [9].