Genius Group Soars 5.87% on Legal Victory

Genius Group's stock surged by 5.87% in pre-market trading on May 22, 2025, marking a significant rise for the AI-powered, Bitcoin-first education group.

Genius Group has recently updated its legal stance in the RICO lawsuit against Peter Ritz and Michael Moe, the controlling officers and directors of LZGI International, Inc. The company has filed an amended complaint seeking updated damages of over $750 million, including treble damages potentially recoverable under federal statute. The lawsuit alleges that the defendants' actions caused significant harm to Genius Group, including a Temporary Restraining Order and Preliminary Injunction that prevented the company from raising funds and buying Bitcoin.

On May 6, 2025, the United States Court of Appeals for the Second Circuit ruled in favor of Genius Group, granting a stay on the Preliminary Injunction. This ruling allows the company to resume normal operations, including raising funds, selling shares, and buying Bitcoin, pending the resolution of the appeal. The company is now focused on restructuring and rebuilding based on the damages incurred over the last three months and is committed to recovering the damages, which have increased to $250 million.

In addition to the RICO case, Genius Group is cooperating with LZGI Shareholders in a Class Action lawsuit against LZGI, Ritz, and Moe for violation of federal securities laws. The company's CEO, Roger Hamilton, has provided an affidavit including testimony against Ritz and Moe in aid of the LZGI Shareholders' case. The company is also investigating a recent hacking incident involving Hamilton's X account, which was successfully recovered and secured on May 20, 2025.