Genius Group to Share Lawsuit Gains With Investors, Buy Bitcoin

Artificial intelligence controlled by Edtetech Genius Group plans to distribute potential prizes from lawsuits in billions to shareholders and use part to expand their bitcoin cash registers, the company said.

On Thursday press release Board of Directors in the Genius Group Group approved The distribution plan for re -winning from two lawsuits that seek combined damage of more than $ 1 billion.

One court was filed under the Act on Influenced and Corrupted Organizations (Rico), which strives for damage over $ 750 million against LZGI International. According to General Director Genius Group, Roger Hamilton, the second has to be served.

Hamilton said the company expects to claim at least $ 262 million on the basis of 2023 data, with updated numbers to increase this amount for damage between 2024 and 2025.

Hamilton said that their courts aim to get damages caused by the defendants.

“The Board of Directors believes that 100% of any return on the successful outcome of these cases should be directly distributed or reinvested in favor of shareholders,” he said.

Distribution of wins of court proceedings in the same halves

According to Hamilton, 50% of the win will be divided between shareholders as a special dividend, while the other half will be redirected to the Bitcoins of the company (BTC) Treasury.

If the company wins both legal battles, shareholders will receive a $ 7 dividend per share and Genius buys and adds 5,000 BTCs at the current market prices of about $ 107,000 for Bitcoins.

Related: Warning warns: Why could Bitcoin Treasury face the capital erosion

The future prizes of the court will also be subject to the distribution plan. However, the company explained that “there is no guarantee” of victory or payouts in both cases.

A group of real group for bitcoin accumulation

June 17th, Group Group has expanded its corporate bitcoin cash register by more than 50% After performing a series of acquisitions BTC. The company aims to obtain 1,000 BTC for its company cash register.

Genius Group was temporarily disabled from the sale of shares, raising funds and using investor funds for the purchase of bitcoins, which was raised after a month.