Investors Face August 28 Deadline in Genius Group Securities Lawsuit

The lawsuit, filed by the Rosen Law Firm, accuses defendants Citadel Securities LLC and Virtu Americas LLC of engaging in illegal "spoofing." According to the complaint, the firms allegedly submitted and subsequently canceled buy or sell orders without genuine intent to execute them. These baiting tactics were purportedly used to create a false impression of price volatility and market interest, ultimately allowing the defendants to profit while increasing transaction costs for other market participants through inflated bid-ask spreads.

Investors who suffered losses exceeding $100,000 are being encouraged to seek lead plaintiff status to help direct the litigation. Participation does not require out-of-pocket payments, as the case proceeds under a contingency fee arrangement. While the court has not yet certified a class, affected shareholders retain the right to select their own legal representation or remain absent members until a formal certification occurs.