Gemini Space Station Investors Face May 18 Deadline in SDNY Securities Class Action

Overview

• Investors have until May 18, 2026 to ask the court to serve as lead plaintiff in the Gemini securities case in the Southern District of New York.
• The lead plaintiff would represent all eligible buyers and select the lawyers who run the case for the class.
• The lawsuit, Methvin v. Gemini Space Station, Inc. (No. 1:26-cv-02261), covers purchases tied to the September 12, 2025 IPO and trades through February 17, 2026.
• Plaintiffs allege the offering documents and later statements overstated the crypto platform’s strength and overseas growth plans while failing to flag a likely, costly restructuring.
• After Gemini’s “2.0” pivot on February 5, 2026, shares fell 8.72% to $6.70, then dropped another 12.9% to $6.585 on February 17, 2026 when it disclosed the COO, CFO and CLO departures and about a 40% jump in operating costs, with shares around $5.96 at filing versus a $28 IPO price.