Janux stock plunges after hours following mCRPC trial data
Investing.com -- Genius Group Ltd (NYSE American:GNS) stock rose 17% in premarket trading Monday after the AI-powered education company announced it has filed a class action complaint against Citadel Securities LLC and Virtu Americas LLC for alleged market manipulation.
The lawsuit, filed in the United States District Court for the Southern District of New York, claims the defendants engaged in "spoofing" and naked short selling of the company’s shares in violation of multiple sections of the Securities Exchange Act of 1934. Genius Group is seeking at least $250 million in damages.
According to the complaint, the alleged manipulation occurred between April 12, 2022, and May 30, 2025, with defendants reportedly entering thousands of spoofing trades on 98% of all trading days during this period. These trades were allegedly designed to create false impressions of excess supply and volatility in Genius stock.
"We have been consistent in calling for fair markets and taking actions to protect our shareholders," said Roger James Hamilton, CEO of Genius Group. "The filing of this lawsuit is an important milestone for the company in what has been a long, multi-year fight to protect the company and its shareholders and expose unfair and illegal practices that our investors have dealt with."
The company noted that the class action was filed on behalf of both Genius Group and all investors who sold stock at allegedly artificially deflated prices. Genius Group will ask the court to appoint it as lead plaintiff to manage the litigation.
The company also reminded shareholders of the November 28, 2025, record date to transfer shares via the Direct Registration System to benefit from its Bitcoin Loyalty Payment program, which is designed to reduce shares available to short sellers.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.