Gemini faces class-action lawsuit, accused of making false or incomplete statements to investors regarding business strategy before and after IPO

DeepFlowTech

2026-03-20 10:40:33

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Deep Tide TechFlow News, on March 20, according to The Block, cryptocurrency exchange Gemini faces a class-action lawsuit in New York. The plaintiffs allege that the company made false or incomplete statements about its business strategy to investors before and around its 2025 initial public offering (IPO).

The lawsuit was filed this Wednesday in the U.S. District Court for the Southern District of New York. Defendants include Gemini and co-founders Tyler Winklevoss and Cameron Winklevoss. The plaintiffs claim that Gemini’s offering documents positioned the company as a crypto platform focused on expanding monthly active users and international presence, but failed to disclose that it was preparing for a major strategic shift.

Gemini’s stock was listed on Nasdaq in September 2025, closing at $32 on the first day. As of this Thursday, it has fallen to $6.01, a total decline of over 80%.

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