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Group has announced plans to share potential billion-dollar lawsuit winnings with shareholders and build up its Bitcoin reserves. The edtech firm’s board has approved a plan to split any proceeds from two legal battles which together seek more than $1 billion in damages. One lawsuit under the RICO Act targets LZGI International for $750 million while a second case is still pending.
CEO Roger Hamilton said shareholders could receive at least $7 per share if both lawsuits succeed with half of any winnings going into a Bitcoin treasury expansion. Genius aims to buy 5,000 BTC at current prices around $107,000 each and has already grown its Bitcoin holdings by over 50% this year.
The company also confirmed it will keep applying the same distribution plan to any future legal payouts. Genius was previously banned from buying Bitcoin with investor funds but that restriction was lifted after a month giving the company a green light to push ahead with its crypto-focused strategy.genius-group-lawsuit-dividend-bitcoin-buy
