SAN DIEGO, April 16, 2026 /PRNewswire/ — Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Gemini Space Station, Inc. (NASDAQ: GEMI) Class A common stock pursuant and/or traceable to the Company’s September 12, 2025 initial public offering (“IPO”), and/or Gemini Space Station, Inc. securities between September 12, 2025 and February 17, 2026. Gemini was founded to develop and operate a cryptocurrency platform.
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The Allegations: Robbins LLP is Investigating Allegations that Gemini Space Station, Inc. (GEMI) Misled Investors in Connection with its Offering Documents in Support of its IPO
According to the complaint, the documents in support of Gemini’s IPO failed to disclose that: (i) Gemini had overstated the viability of its core business as a crypto platform; (ii) Gemini had overstated its commitment to and/or the viability of growing its business through expanding its international operations; (iii) accordingly, Gemini’s post-IPO financial and business prospects were overstated; (iv) all of the foregoing raised a non-speculative risk that Gemini was poised for an expensive and disruptive restructuring; and (v) as a result, the Offering Documents and defendants’ public statements throughout the class period were materially false and misleading at all relevant times.
Plaintiff alleges that on February 5, 2026, Gemini filed a Regulation FD disclosure on Form 8-K with the SEC, announcing the publication of a blog post authored by defendants Tyler and Cameron Winklevoss. In this blog post, the Winklevoss brothers 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, Gemini’s Class A common stock price fell $0.64 per share, or 8.72%, to close at $6.70 per share per share on February 5, 2026.
Then, on February 17, 2026, Gemini issued a Current Report on Form 8-K, announcing the departure of defendant Marshall Beard, its former Chief Operating Officer (“COO”), defendant Dan Chen, its former Chief Financial Officer (“CFO”), and Tyler Meade, Gemini’s former Chief Legal Officer. The Company also offered “preliminary unaudited estimates” of its financial results for the fiscal year ended December 31, 2025, including net revenue of $165 million to $175 million and operating expenses of $520 million to $530 million, an increase of approximately 40% from the previous fiscal year. On this news, Gemini’s stock price fell $0.975 per share, or 12.9%, to close at $6.585 per share on February 17, 2026.
What Now: You may be eligible to participate in the class action against Gemini Space Station, Inc. Shareholders who wish to serve as lead plaintiff for the class must submit their papers to the court by May 18, 2026. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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SOURCE Robbins LLP
