Janux stock plunges after hours following mCRPC trial data
NEW YORK - Genius Group Limited (NYSE American:GNS) announced Friday it has filed a class action complaint in the U.S. District Court for the Southern District of New York against Citadel Securities LLC and Virtu Americas LLC, alleging market manipulation of its shares. The micro-cap education company, currently valued at approximately $71 million, has seen its stock price surge 131% over the past six months despite maintaining a "WEAK" overall financial health score according to InvestingPro data.
The AI-powered education company claims the defendants engaged in "spoofing" and naked short selling of its stock between April 12, 2022, and May 30, 2025, violating multiple sections of the Securities Exchange Act of 1934.
According to the complaint, the defendants allegedly placed thousands of orders they quickly canceled to create false impressions of supply and volatility in Genius Group stock. The lawsuit alleges this activity occurred on 98% of trading days during the specified period, with orders often canceled within milliseconds.
The company is seeking at least $250 million in damages on behalf of itself and shareholders who sold stock at "artificially deflated prices" due to the alleged manipulation.
"We have been consistent in calling for fair markets and taking actions to protect our shareholders," said Roger James Hamilton, CEO of Genius Group, in the press release statement.
The lawsuit claims the defendants built short positions through off-exchange trading and then used spoofing trades to drive down the stock price before selling more shares short.
Genius Group also noted that several brokers have restricted buying of its shares while still allowing selling, which the company views as targeting its stock.
The company reminded shareholders of its November 28, 2025, record date for transferring shares to its transfer agent to participate in its Bitcoin Loyalty Payment program, which it describes as designed to reduce shares available to short sellers.
Based on a press release statement, the class action represents one of the company's efforts to address what it believes is unfair trading activity affecting its stock price.
In other recent news, Genius Group Limited announced a 20% increase in total assets for the first half of 2025, reaching $121.3 million on a proforma basis, compared to $101.05 million at the end of 2024. The company also reported a first-half revenue of $6.1 million on a proforma basis, marking a 25% year-on-year growth. However, on a review basis, revenue was $2.7 million, reflecting a 44.32% decrease from the previous year. Additionally, Genius Group has acquired a 51% stake in two Bali-based education projects for $7.1 million, enhancing its portfolio with ProEd Global School and Genius City. In a strategic move, the company will offer a $0.10 per share loyalty payment in Bitcoin to shareholders maintaining their shares in book entry until May 28, 2026. Furthermore, Robert Kiyosaki, the author of "Rich Dad, Poor Dad," has joined Genius Group as a board advisor to guide brand growth and program expansion. Lastly, Genius Sports Ltd has scheduled its 2025 Annual General Meeting for December 10, 2025, in London, with virtual access available for shareholders.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.