Overview

A class action lawsuit has been filed against Gemini Space Station, Inc. (“Gemini” or the “Company”) (NASDAQ : GEMI) and certain of the Company’s senior executive officers and directors (collectively, “Defendants”), alleging violations of the federal securities laws. The Gemini lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Gemini securities between September 9, 2025, and February 17, 2026, inclusive (the “Class Period”). Investors have until May 18, 2026, to seek appointment as lead plaintiff of the Gemini class action lawsuit.

The complaint alleges that Gemini conducted its September 2025 initial public offering (“IPO”) on the basis of materially false and misleading statements and omissions. Specifically, Defendants represented that Gemini’s core business was a growing cryptocurrency exchange focused on expanding its user base, trading volume, and international footprint. However, the offering materials failed to disclose that the Company had overstated the viability of its core crypto platform and its international expansion strategy, while omitting that Gemini was at risk of a significant operational shift and restructuring.

This began to be revealed on February 5, 2026, when a blog post authored by Defendants Tyler and Cameron Winklevoss, the Company’s co-founders, 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;” (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 nearly 9%, to close at $6.70 per share per share on February 5, 2026.

Then, on February 17, 2026, Gemini announced the departure of several key executives, including its Chief Operating Officer, Chief Financial Officer, and Chief Legal Officer. The Company also provided “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 nearly 13%.

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If you purchased or otherwise acquired Gemini securities between September 9, 2025, and February 17, 2026, and you wish to serve as lead plaintiff in this lawsuit, you are encouraged to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt attorneys Brian O’Mara and Hani Farah by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Gemini class action lawsuit is May 18, 2026.