The complaint alleges that Genius Group violated the Securities Exchange Act of 1934 by issuing false and misleading statements to shareholders. According to the legal filing, company insiders engaged in deceptive trading practices designed to create a false impression of liquidity and demand for its securities. These actions allegedly misled the public regarding the company's true market position throughout the specified three-year period.
The DJS Law Group, led by David Schwartz, is currently soliciting participants for the suit. While shareholders may seek appointment as lead plaintiff to represent the class, the firm notes that such a role is not a prerequisite for individual investors to participate in any potential financial recovery. The litigation specifically targets violations of Rule 10b-5, which prohibits the employment of manipulative and deceptive devices in connection with the purchase or sale of any security.
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