The Board of Directors of Genius Group approved at a meeting of the Board held on Wednesday 18th January 2023, an action plan to address alleged illegal short selling of its stock. This action plan includes creating a Board-led ‘Illegal Trading Task Force’ to actively pursue all possible actions together with the regulators in their discovery and prosecution of persons engaging in market manipulation involving the ordinary shares of Genius Group. This Task Force will be led by Timothy Murphy, a Genius Group Director and former Deputy Director of the F.B.I., Richard Berman, also a Genius Group Director and chair of the Company’s Audit Committee, and Roger Hamilton, the CEO of Genius Group. The Company has been in communication with government regulatory authorities and is sharing information with these authorities to assist them. The Board has also authorized the following actions: Advancing to the next stage of the legal process with Warshaw Burstein, LLP, and Christian Levine Law Group; Issuing a special dividend to all shareholders, which management believes may help to expose those who may have participated in market manipulation relating to the Company’s ordinary shares; Exploring the possibility of a dual listing of Genius Group’s ordinary shares, in the future.
Published first on TheFly
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