The company is currently pursuing two major lawsuits seeking over $1 billion in damages. The first, already filed in the Southern District of Florida under the RICO Act, demands over $750 million in damages tied to alleged misconduct by former partners and executives. <\/p>\n
The second, expected to be filed soon, targets alleged naked short selling and spoofing, with preliminary damages estimated above $260 million \u2014 figures expected to rise with updated 2024\u20132025 trading data.<\/p>\n
If successful, 50% of any net legal recoveries \u2014 after fees and taxes\u2014will be issued to shareholders as a special dividend. The remaining 50% will be used to purchase Bitcoin for the company\u2019s treasury.<\/p>\n
\n\u201cAs both lawsuits are being pursued by the Company to recover damages caused by third parties directly to our shareholders, the Board believes that 100% of any proceeds from the successful outcome of these cases should be directly distributed or reinvested for the benefit of shareholders,\u201d said Genius Group\u2019s CEO, Roger Hamilton.<\/p>\n<\/blockquote>\n
The announcement follows Genius Group\u2019s recent expansion of its BTC holdings, with the company boosting its treasury by 52% over the past month after a U.S. court had lifted a previous ban on crypto purchases. <\/p>\n
Specifically, the company added 34 BTC to its corporate treasury, increasing its total holdings to 100 BTC. The acquisitions were made at an average price of $100,600 per Bitcoin, totaling roughly $10.06 million in investment. With the ban lifted, the CEO reiterated its 1,000 BTC target. <\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Genius Group announced a plan to allocate any future legal settlements equally between shareholder dividends and Bitcoin acquisitions. On June 26, Genius Group, a Singapore-based AI-driven education company listed on…<\/p>\n","protected":false},"author":1,"featured_media":3106,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/4252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=4252"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/4252\/revisions"}],"predecessor-version":[{"id":4253,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/4252\/revisions\/4253"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/3106"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=4252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=4252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=4252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}