Genius Group (GNS) Stock Rockets 38% After-Hours: Why Is It Moving?

Genius Group Ltd (NYSE:GNS) shares surged 38.3% to $0.22 in after-hours trading on Wednesday, following the announcement that the U.S. District Court for the Southern District of Florida denied motions to dismiss the company’s racketeering lawsuit against four defendants. Ruling Keeps $1B Claim Alive The court issued its ruling Sept. 27 in the case against Michael Moe, Peter Ritz, John Clayton and Michael Carter. Genius Group said the denial confirms it sufficiently alleged claims under the federal and Florida Racketeer Influenced and Corrupt Organizations Acts (RICO). The company seeks nearly $1 billion in damages. What the Company Alleges According to the Wednesday release, the complaint claims the defendants used New York-based artificial intelligence solutions provider LZG International Inc. to carry out a fraud scheme through interstate wire and mail transactions. Genius Group alleges it was also deceived into an asset purchase agreement, allowing the defendants to extract millions of dollars in cash and stock. Read Also: Nu Holdings 'Not Pursuing' Monzo — Stock Jumps 6% After Hours It also alleges the defendants sought a preliminary injunction in early 2025 in retaliation after Moe and Ritz were removed from their positions at Genius Group. CEO Roger James Hamilton called it “a very positive ruling” and said the company looks forward to discovery. In late September, Genius Group reported unaudited first-half 2026 results for the six months ended June 30. Revenue from continuing operations rose 140% to $6.2 million, and net loss narrowed 79% to $4.0 million. Net assets reached $105.97 million. Trading Metrics, Technical Analysis Genius Group has a market capitalization of $22.46 million, a 52-week high of $1.06 and a 52-week low of $0.14. The company has approximately 166.14 million shares outstanding. The Relative Strength Index (RSI) of GNS stands at 48.77. Shares of the Singapore-based education technology company, which focuses on AI and Bitcoin (CRYPTO: BTC), have fallen 83.94% over the past 12 months. GNS is currently trading close to its 52-week low. Price Action: The stock closed the regular session on Wednesday at $0.16, up 9.20%, according to Benzinga Pro data. See More: Top Value Stocks Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: Zakharchuk / Shutterstock