Genius Group Ltd. GNS, -4.57%, an edtech and education group, said a probe conducted by Christian Levine Law Group and Warshaw Burstein, LLP has found that certain individuals or companies sold a “significant” amount of its stock but did not deliver it, which is illegal.
The company said it appears to be “part of a market manipulation scheme seeking to artificially depress the price of the securities of the company.” The company will continue to investigate the matter and aggressively pursue all remedies, it said in a statement. The stock was up 1.8% premarket, but has fallen 55% in the last 12 months, while the S&P 500 SPX, -0.40% has fallen 20%.
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