GEMI Investor Alert: Gemini Space Station Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Company Allegedly Misled on Strategic Direction: Levi & Korsinsky

Key Dates and Disclosure Events Shareholders Need to Know

NEW YORK, May 13, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP encourages investors who suffered losses in Gemini Space Station, Inc. (NASDAQ: GEMI) to contact the firm. Those who purchased GEMI securities between September 12, 2025 and February 17, 2026 may be entitled to recover damages. Find out if you are eligible to recover losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

From an IPO price of $28.00 per share, GEMI shares collapsed to $6.585, a decline of over 76%. The window to apply for lead plaintiff closes on May 18, 2026.

September 12, 2025 — IPO Launch at $28.00 Per Share

Gemini's Class A common stock began trading on the NASDAQ. The Offering Documents described a company focused on its core crypto exchange platform, international expansion across Europe and Asia-Pacific, and growing monthly transacting users at a 20% to 25% compound rate. No disclosure was made regarding any imminent strategic pivot, the complaint alleges.

November 10, 2025 — Q3 Earnings Call Reinforces Expansion Narrative

During the third quarter earnings call, the lawsuit contends, management highlighted progress on international licensing, including a MiCA license covering 30 European countries, AUSTRAC registration in Australia, and plans for derivatives offerings to U.K. investors. The Company reiterated its MTU growth framework without signaling any change in strategic direction.

December 10, 2025 — Prediction Market Announcement

Gemini announced it would launch event contracts for U.S. customers. However, as alleged, the Company gave no indication this product would soon become the centerpiece of a wholesale corporate transformation.

February 5, 2026 — The 'Gemini 2.0' Pivot Revealed

A blog post by the Co-Founders announced three dramatic changes: the prediction market would become "front and center," 25% of the workforce would be eliminated, and Gemini would exit the U.K., E.U., and Australian markets entirely. Shares fell $0.64 per share, or 8.72%, to close at $6.70.

February 17, 2026 — Executive Departures and Expense Surge Disclosed

Gemini announced the departure of its COO, CFO, and Chief Legal Officer. Preliminary results for fiscal year 2025 revealed operating expenses of $520 million to $530 million, up approximately 40% year-over-year, attributed to higher personnel-related costs. Shares fell an additional $0.975, or 12.9%, to close at $6.585.

Chronology of Material Events

The securities action chronicles a pattern of alleged disclosure failures:

• September 2025: IPO raised nearly $400 million on representations of sustained crypto exchange growth and aggressive international expansion
• November 2025: Management reiterated international milestones and MTU growth targets with no mention of strategic reassessment
• December 2025: Prediction market announced as a supplemental product, not a strategic overhaul
• February 5, 2026: Full pivot disclosed, including workforce cuts and market exits contradicting prior representations
• February 17, 2026: Three senior executives departed; operating expenses surged 40%, revealing the restructuring's true cost

Submit your claim before the deadline or call Joseph E. Levi, Esq. at (212) 363-7500.

"Timely disclosure of material developments is fundamental to fair and efficient markets. The timeline in this case raises important questions about why shareholders were not informed of the strategic shift that fundamentally altered Gemini's business trajectory." — Joseph E. Levi, Esq.

ABOUT THE FIRM — For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years. Those wishing to serve as lead plaintiff must act by May 18, 2026.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171

SOURCE Levi & Korsinsky, LLP