Gemini Space Station (GEMI) Shares Slide Amid Surprise International Pullback and Executive Departures, Both Within Months of IPO - Hagens Berman

GEMI Investors with Losses Encouraged to Contact Hagens Berman

SAN FRANCISCO, Feb. 20, 2026 /PRNewswire/ -- On February 17, 2026, investors in Gemini Space Station (NASDAQ: GEMI) saw the price of their shares drop about 13% on the company's bombshell announcement of three senior executive departures. The stock closed at $6.59, or over 76% below the company's September 2025 IPO price.

About two weeks earlier, Gemini shares dropped again about 9% on news the company would wind down international operations and reduce its workforce by about 25%.

The developments and severe market reactions have prompted national shareholder rights law firm Hagens Berman to open an investigation into whether Gemini may have violated the federal securities. The firm urges Gemini investors who suffered significant losses to contact the firm now to discuss their rights.

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Gemini Space Station (GEMI) Investigation:

The investigation focuses on the propriety of the crypto platform company's September 2025 IPO prospectus about then-existing trends which were having a significant adverse impact on its business, including governance.

Among other matters, Gemini's IPO prospectus repeatedly emphasized its plan for international expansion. Gemini assured investors that "[g]eographic expansion into new markets and jurisdictions will further amplify our global reach, creating a robust foundation for sustained growth." In addition, the company highlighted its focus on investments in both the European and Asia-Pacific ("APAC") regions.

Investors began to question the IPO prospectus's assurances on Feb. 5, 2026. That day, the company revealed that "[o]n February 4, 2026, Gemini Space Station, Inc. […] approved a plan to exit and wind down its operations in the United Kingdom, the European Union and other European jurisdictions, and Australia as part of a broader initiative to reduce operating expenses[]" and that this plan would include a 25% workforce reduction to include "employees in Europe, the United States, and Singapore[.]"

This news drove the price of Gemini shares down almost 9% that day.

Then, on Feb. 17, 2026, Gemini made another bombshell announcement. That day, Gemini revealed that "it will be parting ways with each of Marshall Beard, Chief Operating Officer, Dan Chen, Chief Financial Officer, and Tyler Meade, Chief Legal Officer, each effective as of February 17, 2026." Beard also left the company's board of directors. The company did not provide investors with reasons for the three key executives' departures, including whether or not they were in effect terminated.

The market swiftly reacted again, sending the price of Gemini shares down about 13% that day.

"We're investigating whether, at the time of its IPO, Gemini knew of adverse trends that within a few months afterwards required massive layoffs in the international operations which the company had said would serve as a robust foundation for sustained growth. We're also looking into how long the company's management turmoil had been going on before the C-Suite departures and whether it existed at the time of the IPO," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.

If you invested in Gemini and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now »

If you'd like more information and answers to frequently asked questions about the firm's Gemini investigation, read more »

Whistleblowers: Persons with non-public information regarding Gemini should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

SOURCE Hagens Berman Sobol Shapiro LLP