Investors File Securities Class Action Against Gemini as Law Firms Seek Lead Role

Overview

• The suit, filed in the Southern District of New York as Methvin v. Gemini Space Station, Inc., No. 26-cv-02261, targets Gemini and certain officers on behalf of IPO buyers and investors through February 17, 2026.
• The complaint says Gemini overstated the strength of its crypto exchange and its plans for overseas growth, which hid the risk of a costly restructuring.
• Gemini’s February 5, 2026 “Gemini 2.0” pivot put a prediction market at the center of its product, cut staff by 25 percent, and dropped the U.K., E.U., and Australia, and the stock fell 8.72 percent to $6.70.
• After Gemini disclosed on February 17, 2026 the exits of COO Marshall Beard, CFO Dan Chen, and Chief Legal Officer Tyler Meade plus weak 2025 estimates, the stock slid 12.9 percent to $6.585.
• Plaintiff firms are urging investors to seek lead-plaintiff status by mid-May, with some notices citing May 15 and others May 18, and the selected lead plaintiff will direct litigation strategy.