![]() We’ve also been told that many Gemini users have been targeted by scammers pretending to be Gemini personnel, via email, whatsapp, and phone calls / texts. District Court for the Southern District of New York. Gemini Trust Company, LLC for the complaint K&S filed on Decemin the U.S. In addition, the law firms responsible for these advertisements are attempting to mislead investors into believing that they filed a class action against Gemini, which is also inaccurate. Many of these advertisements are intended to mislead investors into believing that they have to take affirmative steps to be part of the proposed class, which is inaccurate. Note: We encourage Gemini customers to exercise caution if they see advertisements from law firms discussing the class action. The Action further alleges that the Defendants violated securities laws because Gemini failed to register as an exchange and/or broker-dealer and offered and sold unregistered securities without providing registration statements for such securities, which would have apprised investors of the risks and other important information associated with their investments. ![]() The Action alleges that Gemini made actionable misstatements that deceived investors by touting Gemini Earn as a safe method of storing crypto assets and collecting interest payments and that Gemini omitted and concealed significant information concerning the risks associated with Gemini Earn, including information concerning its so-called partner and borrower in connection with the program, Genesis Global Capital, LLC. The Action asserts claims under the Securities Act of 1933, the Securities Exchange Act of 1934 and under state law on behalf of a proposed class of persons who invested in the Gemini Earn program (“Gemini Earn”) from February 2, 2021, through the Decem(the “Class Period). ![]() ![]() On or about November 16, 2022, Gemini halted Gemini Earn and refused to honor any further investor redemptions. Gemini, a New York-based crypto asset exchange and lending platform, offered and sold Gemini interest accounts to investors via Gemini Earn, through which investors lent crypto assets in exchange for interest payments. ![]()
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