All eyes are on Genius Group (NYSEMKT:GNS), as shares of GNS have more than doubled today. The education technology company announced this morning that its board had formed an “Illegal Trading Task Force” to investigate market manipulation and naked short selling. The task force will be led by Director and former former FBI Deputy Director Timothy Murphy, CEO Roger Hamilton and Director Richard Berman.
Genius Group will also hold an extraordinary general meeting in the coming weeks. At the meeting, shareholders will vote to approve several measures, such as a reverse stock split and/or a stock buyback plan. Genius’ board has also authorized three proposals which will be voted on by shareholders.
The first measure is to move forward in the legal process with two law firms to explore necessary legal action against anyone who is reasonably believed to have manipulated GNS stock. Next, the company plans on issuing a special dividend. Genius’ management has stated the dividend could help with exposing anyone involved with market manipulation.
More details about the dividend will be provided in the near future. Finally, Genius is currently in the process of exploring the possibly of a dual listing. Management explained an additional listing could make market manipulation and naked short selling more difficult to achieve.
5 Investors Betting on GNS Stock
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