PHILADELPHIA, March 23, 2026 (GLOBE NEWSWIRE) -- The law firm of Barrack, Rodos & Bacine announces that a class action lawsuit has been filed on behalf of investors who purchased shares of Gemini Space Station Inc. ( GEMI ) traceable to the initial public offering on September 12, 2025, and/or between September 12, 2025 and February 17, 2026.

Investors who purchased Gemini shares are encouraged to contact the firm at barrack.com or at the number noted below to discuss their options.

WHAT’S THIS ABOUT?

Founded by the Winklevoss brothers, Tyler and Cameron, Gemini Space Station Inc. ( GEMI ) (“Gemini” or “the Company”) is a cryptocurrency platform used for buying, selling, and storing various cryptocurrency assets.

Since its initial public offering on September 12, 2025, at $28.00 per share, the price of Gemini’s common stock has declined to less than $6.00 per share as of March 18, 2026, resulting in hundreds of millions of dollars of losses to the Company’s public shareholders. On February 17, 2026, Gemini warned of larger than expected EBITDA losses and announced layoffs and exits from several international markets to reduce costs. Losses are expected to continue through 2029.  Compounding the situation, the Company simultaneously announced the immediate departure of several senior executives, including the Chief Operating Officer, the Chief Financial Officer, and the Chief Legal Officer.  No reason has been provided by the Company for this extreme change to corporate management.

The lawsuit alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the Offering Documents and Defendants allegedly made false and/or misleading statements and/or 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.  

WHAT CAN I DO?

If you purchased shares of Gemini’s common stock either in or traceable to the IPO and/or during the class period and would like to discuss your options, please contact Barrack, Rodos & Bacine by calling Linda Border or Mark Stein at 877-386-3304, or via email at [email protected], or visiting the firm’s web site (barrack.com).

WHO WE ARE

Barrack, Rodos & Bacine has more than four decades of experience prosecuting securities law class actions, including cases involving accounting fraud and insider trading, and has achieved some of the largest recoveries in U.S. history of securities litigation. The firm's largest recoveries on behalf of investors include $6.19 billion for WorldCom investors, $3.32 billion for Cendant investors, $1.05 billion for McKesson investors, and $970.5 million for AIG investors.

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Source: Barrack Rodos & Bacine