Genius Group Limited
Securities Class Action

A complaint has been filed on behalf of investors in Genius securities, alleging violations of the federal securities laws by Citadel Securities LLC (“Citadel”) and Virtu Americas LLC (“Virtu” and, together with Citadel, the “Defendants”). The complaint alleges that throughout the Class Period, Defendants engaged in a manipulative and illegal trading practice known as “spoofing,” which involves submitting and then cancelling buy or sell orders without any genuine intent to execute them. The purpose of these “baiting orders” was to mislead other market participants about the true level of supply and demand for Genius securities, or about the stock’s price volatility, thereby influencing the market price of Genius to benefit Defendants’ own trading positions. The alleged manipulation also increased investors’ transaction costs by inflating the bid-ask spread for Genius stock. Defendants entered thousands of these baiting orders on U.S. stock exchanges to create the false impression that Genius’s stock price reflected genuine supply-and-demand and volatility dynamics, while simultaneously profiting by absorbing and reselling their customers’ order flow at prices favorable to Defendants. The complaint further alleges that throughout the Class Period, sharp declines in Genius’s stock price consistently coincided with substantial spikes in Defendants’ spoofing activity. For example, during the week of February 10, 2025, Defendants built significant short positions in Genius stock and reaped substantial trading profits: Citadel traded more than 23 million shares of Genius off-exchange, accounting for nearly half of all off-exchange trading in the stock, while Virtu traded nearly 11 million shares, accounting for more than 20% of all off-exchange trading. Together, Defendants comprised nearly 70% of all off-exchange trading in Genius stock that week, as short volume surged from a low of 53% to more than 61%. As a result, Genius’s stock price decline by 22% despite the absence of any new material, company-specific news.