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National shareholder rights law firm Hagens Berman says it has filed a securities class action lawsuit against Gemini Space Station, Inc. (NASDAQ: GEMI) and top executives, including founders Cameron and Tyler Winklevoss. The litigation follows disclosures that, according to the firm, have driven the company’s stock to trade more than 75% below its initial public offering (IPO) price.
The case, Methvin v. Gemini Space Station, Inc., et al., No. 1:26-cv-02261, was filed in the U.S. District Court for the Southern District of New York.
The complaint seeks to recover losses for all persons and entities who purchased or otherwise acquired Gemini common stock pursuant to and/or traceable to the company’s September 12, 2025 IPO and/or Gemini securities between September 12, 2025, and February 17, 2026, inclusive.
Hagens Berman’s summary of the allegations says the complaint claims Gemini made material misstatements and omissions, including in its IPO materials.
The firm states that following these disclosures and Gemini’s projected $602 million net loss for 2025, the company’s stock fell to below $7.00 per share—more than a 75% decline from the $28.00 IPO price.
Hagens Berman says investors who purchased Gemini common stock in or traceable to the September 2025 IPO, or during the class period, have until May 18, 2026 to ask the court to appoint them as Lead Plaintiff.
The firm also encourages individuals with non-public information regarding Gemini to consider their options to support the investigation or to take advantage of the SEC Whistleblower program. Under the program described in the article, whistleblowers who provide original information may receive rewards totaling up to 30% of any successful recovery made by the SEC.
For information related to the case, investors are directed to www.hbsslaw.com/cases/gemini.
“We’re examining whether Gemini may have misled investors by portraying the company as focused on international exchange growth while allegedly failing to disclose an imminent pivot to prediction markets,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation of the alleged claims in the pending class action.
Reed Kathrein: 844-916-0895
Email: GEMI@hbsslaw.com
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