GEMI Investor Alert: Gemini Space Station Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After IPO Documents Allegedly Concealed Risks: Levi & Korsinsky

Shareholders Who Acquired Shares in Gemini's September 2025 IPO Urged to Review Options

NEW YORK, April 29, 2026 /PRNewswire/ -- Section 11 of the Securities Act of 1933 imposes strict liability on issuers whose registration statements contain untrue statements of material fact or omit facts necessary to make the statements made not misleading. Levi & Korsinsky, LLP announces that a securities class action has been filed against Gemini Space Station, Inc. (NASDAQ: GEMI).

YOU MAY BE AFFECTED IF YOU:

• Purchased GEMI stock between September 12, 2025 and February 17, 2026
• Lost money on your Gemini investment
• Acquired shares in or traceable to the Company's September 2025 IPO

Find out if you qualify for recovery or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

Gemini priced its IPO at $28.00 per share on September 12, 2025, raising approximately $398.4 million in gross proceeds. By February 17, 2026, shares had fallen to $6.585, a decline of over 76% from the offering price. Motions for lead plaintiff must be filed with the Court by May 18, 2026.

The Alleged Registration Statement Misrepresentations

The action contends that Gemini's Registration Statement and prospectus, filed with the SEC in August and September 2025, painted a picture of a company built around its core cryptocurrency exchange platform. The Offering Documents described Gemini as "predominantly focused on expanding [its] exchange platform via increased MTUs, increased average daily trading volume ("ADV"), and increasing the number of assets available on [its] platform." As pleaded, the documents failed to disclose that the Company was poised for an imminent and wholesale corporate pivot away from this core model.

What the Registration Statement Allegedly Misrepresented

• The durability of Gemini's cryptocurrency exchange as its core business and primary revenue driver
• The Company's commitment to international expansion into the UK, EU, and Australian markets
• The sustainability of its MTU growth strategy targeting 20%-25% compound growth
• The likelihood that top executives would depart within months of the IPO, triggering substantial severance obligations
• The non-speculative risk that an expensive and disruptive restructuring was imminent

IPO Due Diligence and the Omission of a Strategic Pivot

Plaintiffs allege that prediction markets and event contracts received only passing mention in the Offering Documents, with the term "prediction market" appearing just once. Event contracts were listed merely as one of several "upcoming initiatives." Yet within five months, the Company's co-founders announced "Gemini 2.0," making the prediction market "front and center," cutting 25% of the workforce, and abandoning the very international markets the Offering Documents had highlighted as growth catalysts.

Start your claim now or call (212) 363-7500.

"The PSLRA provides important protections for investors harmed by alleged securities violations. When an IPO registration statement touts international expansion and a core crypto exchange model, but the company pivots to an entirely different business within months, purchasers deserve answers." -- Joseph E. Levi, Esq.

Alleged IPO Proceeds and Defendant Motivation

The complaint charges that defendants had motive to inflate the offering price. Gemini raised nearly $398.4 million at $28.00 per share. As set forth in the complaint, Defendant Beard sold 479,901 shares for approximately $11.8 million while the allegedly misleading statements remained uncorrected. The action asserts claims under Section 11 and Section 15 of the Securities Act, as well as Section 10(b) and Section 20(a) of the Exchange Act.

Get more information about this case or contact Joseph E. Levi, Esq. at (212) 363-7500.

WHY LEVI & KORSINSKY -- Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors.

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