Genius Group to Share Lawsuit Gains With Investors, Buy Bitcoin
Genius Group plans to distribute potential winnings from lawsuits totaling over $1 billion to shareholders and expand its Bitcoin treasury. The board approved a distribution plan for two lawsuits, one under the RICO Act seeking over $750 million against LZGI International. CEO Roger Hamilton anticipates claiming at least $262 million, with potential increases for 2024 and 2025 damages. Fifty percent of any winnings will be distributed as a special dividend, while the other half will be used to purchase Bitcoin. If both lawsuits succeed, shareholders could receive a $7 per share dividend, and the company aims to acquire 5,000 BTC at current prices. Future court winnings will also follow this distribution plan, though no guarantees of success or payouts exist. Genius Group recently increased its Bitcoin treasury by over 50% and aims to acquire 1,000 BTC.
