Genius Group says probe has found that individuals or companies illegally sold 'significant' amount of its stock

Dow Jones2023-01-04

MW Genius Group says probe has found that individuals or companies illegally sold 'significant' amount of its stock

Genius Group Ltd. $(GNS)$, an edtech and education group, said a probe conducted by Christian Levine Law Group and Warshaw Burstein, LLP has found that certain individuals or companies sold a "significant" amount of its stock but did not deliver it, which is illegal. The company said it appears to be "part of a market manipulation scheme seeking to artificially depress the price of the securities of the company." The company will continue to investigate the matter and aggressively pursue all remedies, it said in a statement. The stock was up 1.8% premarket, but has fallen 55% in the last 12 months, while the S&P 500 has fallen 20%.

-Ciara Linnane

(END) Dow Jones Newswires

January 04, 2023 07:19 ET (12:19 GMT)

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