Gemini Space Station, Inc. (NASDAQ: GEMI)

This lawsuit is for anyone who acquired securities in Gemini Space Station, Inc. (NASDAQ: GEMI) from September 9, 2025 through February 17, 2026.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit that, in the Prospectus to the Company’s IPO, and throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by overstating the viability of its core business as a crypto platform.

On February 5, 2026, Gemini announced a corporate pivot to “Gemini 2.0”, describing three dramatic changes to Gemini’s operations: (1) Gemini’s prediction market would be “more front and center in our experience”; (2) Gemini would reduce its workforce by 25%; and (3) Gemini would exit the United Kingdom, European Union, and Australian markets. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on February 17, 2026, Gemini announced the departure of its Chief Operating Officer, Chief Financial Officer, and its Chief Legal Officer. The Company also released preliminary unaudited estimates of its full year 2025 financial results, revealing an approximate 40% increase in operating expenses. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume. The stock also traded lower at the commencement of this litigation than it did at the time of the IPO.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Gemini Space Station, Inc. (NASDAQ: GEMI) from September 9, 2025 through February 17, 2026 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.