Gemini, Winklevoss Twins Sued By Investors For ‘False’ IPO Claims, Operational Shifts — Crypto Exchange’s Q4 Loss Deepens
Shareholders filed a class action lawsuit against Gemini Space Station, Inc. (NASDAQ:GEMI) and the Winklevoss brothers on Wednesday, alleging that the company misled investors in relation to its Initial Public Offering.
‘False, Misleading Statements’
The lawsuit claimed that Gemini failed to disclose several key issues in the documents supporting its IPO, according to San Diego-based plaintiffs’ law firm Robbins LLP. These include overstating the viability of its core business as a cryptocurrency platform and its international expansion.
The lawsuit also alleged that the company’s post-IPO financial and business prospects were overstated. The plaintiffs stated that the offering documents and public statements made by co-founders, Tyler and Cameron Winklevoss, were “materially false and misleading.”
The shareholders pointed to a blog …
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