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Genius Group (NYSE American: GNS) has provided significant updates on multiple legal cases. The company will host a Live Spaces call on August 26, 2025 to discuss its market manipulation lawsuit and RICO lawsuit developments.
In the arbitration case against LZG International (LZGI), GNS is pursuing rescission of its 2024 Asset Purchase Agreement, seeking return of 7.4 million GNS shares and $6.6 million. LZGI’s attorney withdrew due to conflicts of interest, marking their fourth counsel change in eight months.
The company’s RICO case in Florida seeks triple damages exceeding $750 million against four defendants, who have all been served. Additionally, GNS plans to distribute future legal proceeds equally between shareholders (50%) and Bitcoin Treasury purchases (50%).
Genius Group (NYSE American: GNS) ha comunicato aggiornamenti importanti su diversi procedimenti legali. La società terrà una Live Spaces il 26 agosto 2025 per illustrare gli sviluppi della causa per manipolazione del mercato e della causa RICO.
Nell’arbitrato contro LZG International (LZGI), GNS richiede la rescissione dell’Asset Purchase Agreement del 2024, con la restituzione di 7,4 milioni di azioni GNS e 6,6 milioni di dollari. L’avvocato di LZGI si è ritirato per conflitti di interesse, segnando il quarto cambio di difensore in otto mesi.
La causa RICO in Florida chiede danni triplicati per oltre 750 milioni di dollari contro quattro imputati, tutti già notificati. Inoltre, GNS intende destinare i proventi legali futuri in parti uguali tra azionisti (50%) e acquisti per il Bitcoin Treasury (50%).
Genius Group (NYSE American: GNS) ha dado importantes novedades sobre varios procesos legales. La compañía celebrará un Live Spaces el 26 de agosto de 2025 para comentar los avances en la demanda por manipulación de mercado y en la demanda RICO.
En el arbitraje contra LZG International (LZGI), GNS solicita la resolución de su Asset Purchase Agreement de 2024, reclamando la devolución de 7,4 millones de acciones GNS y 6,6 millones de dólares. El abogado de LZGI se retiró por conflictos de interés, siendo este el cuarto cambio de representación en ocho meses.
La demanda RICO en Florida reclama daños triplicados por más de 750 millones de dólares contra cuatro acusados, a quienes ya se ha notificado. Además, GNS planea repartir los futuros ingresos legales a partes iguales entre accionistas (50%) y compras para el Bitcoin Treasury (50%).
Genius Group (NYSE American: GNS)는 여러 법적 사건에 대한 주요 업데이트를 발표했습니다. 회사는 2025년 8월 26일 Live Spaces 전화를 열어 시장 조작 소송 및 RICO 소송의 진행 상황을 논의할 예정입니다.
LZG International(LZGI)를 상대로 한 중재 사건에서 GNS는 2024년 자산 매매계약의 취소(rescission)를 요구하며 740만 GNS 주와 660만 달러의 반환을 청구하고 있습니다. LZGI 측 변호사는 이해충돌로 철수했으며, 이는 8개월 동안 네 번째 법률 대리인 교체입니다.
플로리다에서 제기된 RICO 소송은 네 피고를 상대로 7억 5천만 달러를 초과하는 삼중 손해배상을 청구했으며, 모든 피고는 송달을 완료했습니다. 또한 GNS는 향후 법적 수익을 주주(50%)와 비트코인 재무계정 매입(50%)에 균등하게 배분할 계획입니다.
Genius Group (NYSE American: GNS) a communiqué des mises à jour importantes concernant plusieurs affaires judiciaires. La société tiendra un Live Spaces le 26 août 2025 pour présenter l’évolution de sa plainte pour manipulation de marché et de son action RICO.
Dans l’arbitrage contre LZG International (LZGI), GNS demande la résolution (rescission) de son Asset Purchase Agreement de 2024, réclamant la restitution de 7,4 millions d’actions GNS et 6,6 millions de dollars. L’avocat de LZGI s’est retiré pour conflit d’intérêts, ce qui constitue le quatrième changement de conseil en huit mois.
L’affaire RICO en Floride vise à obtenir des dommages-intérêts triplés dépassant 750 millions de dollars contre quatre défendeurs, qui ont tous été signifiés. De plus, GNS prévoit de répartir à parts égales les futurs produits juridiques entre les actionnaires (50 %) et les achats pour le Bitcoin Treasury (50 %).
Genius Group (NYSE American: GNS) hat bedeutende Neuigkeiten zu mehreren Rechtsfällen veröffentlicht. Das Unternehmen wird am 26. August 2025 einen Live Spaces-Anruf abhalten, um die Entwicklungen in der Marktmanipulationsklage und der RICO-Klage zu erläutern.
Im Schiedsverfahren gegen LZG International (LZGI) strebt GNS die Anfechtung (rescission) des Asset Purchase Agreement von 2024 an und fordert die Rückgabe von 7,4 Millionen GNS-Aktien und 6,6 Millionen US-Dollar. Der Anwalt von LZGI ist wegen Interessenkonflikten zurückgetreten; dies ist bereits der vierte Wechsel der Rechtsvertretung binnen acht Monaten.
Die RICO-Klage in Florida fordert drei- fache Schadensersatzansprüche von über 750 Millionen US-Dollar gegen vier Beklagte, die alle bereits zugestellt wurden. Zudem plant GNS, künftige Rechtserlöse hälftig zwischen Aktionären (50%) und Käufen für das Bitcoin Treasury (50%) aufzuteilen.
Positive
- Successfully served all four defendants in the RICO case seeking $750 million in damages
- Favorable ruling in Florida court against LZGI Directors for fraudulent conduct
- 50% of future legal proceeds will be distributed to shareholders
- Company maintains commitment to expedited arbitration proceedings despite opposing counsel changes
Negative
- Multiple delays in legal proceedings due to defendants allegedly avoiding service
- Ongoing complexity with multiple interrelated lawsuits
- No current legal representation for LZGI in arbitration case
- Four changes of opposing counsel in eight months causing potential delays
Insights
Genius Group’s multiple high-stakes legal battles could significantly impact shareholder value, with potential recovery of substantial assets.
Genius Group’s legal update reveals three significant litigation fronts that could materially impact the company’s financial position. First, the arbitration case against LZG International seeks rescission of a 2024 Asset Purchase Agreement, recovery of $6.6 million, and return of 7.4 million GNS shares. This case has gained momentum after a Florida court ruled that LZGI directors engaged in fraudulent conduct, resulting in their removal and withdrawal of LZGI’s legal representation.
Second, the RICO lawsuit filed in Florida targets four defendants including former LZGI directors, seeking triple damages exceeding $750 million. Despite service of process challenges, all defendants have now been served, with responses beginning September 1.
Third, an imminent market manipulation lawsuit led by noted attorney James Wes Christian could target parties allegedly manipulating GNS stock, though specific defendants aren’t identified in the release.
The company has established a distribution plan allocating 50% of any legal recoveries to shareholders and 50% to Bitcoin purchases for its treasury. This structure creates a direct financial incentive for shareholders from successful litigation outcomes.
The legal strategy appears comprehensive but faces execution risks including potential delays, challenges proving complex fraud allegations, and collection difficulties even if judgments are secured. The company’s decision to pursue multiple high-stakes lawsuits simultaneously suggests confidence in their claims but also represents significant resource allocation toward litigation rather than core business operations.
08/18/2025 – 08:36 AM
SINGAPORE, Aug. 18, 2025 – Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a player in the AI-powered education sector with a Bitcoin-first approach, is gearing up for a Live Spaces call on X.com at 9:00 AM ET on August 26, 2025. The session aims to provide an update on the company’s ongoing legal battles, including a market manipulation lawsuit and a RICO case, followed by a Q&A.
The Live Spaces event will feature Genius Group CEO Roger James Hamilton, alongside litigation attorneys James Wes Christian and Mark R Basile Esq. Board Advisor Kevin Malone will host the call, navigating the discussion around these complex legal matters.
LZGI Arbitration: A Rocky Legal Road
The dispute with LZG International (“LZGI”) is centered around Genius Group’s move to rescind its 2024 Asset Purchase Agreement (“APA”), seeking the return of 7.4 million GNS shares and $6.6 million linked to the agreement. Recent developments suggest a bumpy road ahead for LZGI, with Christopher Serbagi, their most recent attorney, withdrawing from the arbitration and Preliminary Injunction (PI) case in the Southern District of New York (SDNY) (Case No: 1:24-cv-08464-MKV).
- This withdrawal follows a Florida court ruling on July 25, 2025, in a fraud case against LZGI Directors Michael Moe (“Moe”) and Peter Ritz (“Ritz”) (Case No: 2024-019773-CA-01). Roger James Hamilton provided an affidavit supporting the LZGI shareholders, with the court ultimately granting a final default judgment, stating the two Directors “engaged in fraudulent conduct with respect to the corporation, grossly abused their position, and intentionally inflicted harm on LZGI.” The court ordered the removal of Moe and Ritz from their executive positions, and LZGI’s representation has since changed.
- The SDNY court subsequently requested Mr. Serbagi to justify his continued representation of Moe and Ritz. Rather than providing justification, Mr. Serbagi moved to withdraw as counsel for LZGI, Moe, and Ritz due to a “conflict of interest.” LZGI has yet to name replacement counsel.
- Despite four changes of counsel in just eight months, Genius Group expresses its commitment to the expedited arbitration proceeding filed in December 2024. The company’s legal team is actively working to achieve a timely and favorable outcome for Genius Group and its shareholders.
RICO Lawsuit: Pursuing Significant Damages
Genius Group’s RICO case, filed in Florida against Moe, Ritz, John Clayton (“Clayton”) and Michael Carter (“Carter”) (Case No: 1:25-cv-21496-BB), seeks triple damages exceeding $750 million. The path to serving the defendants hasn’t been without hurdles.
- Due to initial difficulties in serving three of the four defendants, the court granted an extension.
- Genius Group successfully served all four defendants – three through substitute service of process via the Florida Department of State, with Ritz being served on August 13, 2025. Moe, the first defendant served, has until September 1, 2025, to respond to the company’s claims.
- Despite these challenges, Genius Group’s legal team is focused on minimizing further delays in the RICO case.
Market Manipulation Lawsuit on the Horizon
Attorney James Wes Christian spearheads Genius Group’s impending lawsuit targeting alleged market manipulation. Details surrounding this case will be shared during the X Spaces call on August 26, 2025.
Back in June, Genius Group announced a Board-approved plan for distributing proceeds from legal wins. Net proceeds will be split evenly: 50% will be distributed to shareholders, and 50% will be used to purchase Bitcoin for the company’s Bitcoin Treasury – a strategic move aligning with their Bitcoin-first philosophy.
Genius Group CEO, Roger James Hamilton, stated, “Given the various positive developments the Company is seeing across its multiple, interrelated lawsuits, we have decided to host the X Spaces legal update to give our investors and stakeholders an overview of the status of the cases and to take questions.”
He continued, “Our attorneys, Wes Christian and Mark Basile are both well known in their respective field for litigating market manipulation and RICO cases that champion the interests of small cap public companies and their investors. This call is an opportunity to gain an understanding not only of Genius Group’s legal cases, but of the progress of legal cases championing the rights of retail investors in general.”
Details about the X Spaces Call will be accessible at https://ir.geniusgroup.net/ prior to the event.
About Genius Group
Genius Group (NYSE: GNS) is leveraging AI to provide education and acceleration solutions for the future of work, taking a Bitcoin-first approach. Serving 5.8 million users in over 100 countries through its Genius City model and online digital marketplace, the company offers AI training, AI tools, and AI talent. Genius Group combines human talent with AI skills and solutions at the individual, enterprise, and government level. For more information, visit https://www.geniusgroup.ai/
Forward-Looking Statements
This release includes forward-looking statements subject to risks and uncertainties as defined under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are marked by terms like “may,” “will,” “plan,” “should,” “expect,” and carry inherent uncertainties that may cause actual outcomes to diverge from projections. Investors should exercise caution regarding these statements and carefully consider the risk factors detailed in the Company’s Annual Reports on Form 20-F, and any subsequent supplements or amendments in Form 6-K. Genius Group assumes no obligation to revise forward-looking statements based on new information or events. Nothing in this press release should be interpreted as a guarantee of future revenues, operational results or stock price.
Contacts
FAQ
What is the status of Genius Group’s (GNS) RICO lawsuit as of August 2025?
GNS has successfully served all four defendants in its RICO case seeking $750 million in triple damages. The first defendant, Moe, must respond to claims by September 1, 2025.
How much is Genius Group seeking to recover in its arbitration case with LZGI?
GNS is seeking the return of 7.4 million GNS shares and $6.6 million in funds related to the 2024 Asset Purchase Agreement with LZGI.
When will Genius Group (GNS) host its legal update call in August 2025?
GNS will host a Live Spaces call on X.com at 9:00 AM Eastern Time on August 26, 2025, featuring CEO Roger James Hamilton and litigation attorneys.
How will Genius Group distribute proceeds from potential legal wins?
GNS will distribute net proceeds equally: 50% to shareholders and 50% to purchase Bitcoin for its Bitcoin Treasury.
What was the Florida court’s ruling regarding LZGI Directors?
The Florida court granted final default judgment, ruling that Directors Moe and Ritz engaged in fraudulent conduct, grossly abused their positions, and intentionally inflicted harm on LZGI.
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