US Court Denies Motions to Dismiss Genius Group's $750M RICO Lawsuit

Key Facts

1The U.S. District Court for the Southern District of Florida denied all motions to dismiss filed by defendants in Genius Group's RICO lawsuit.

2The company is seeking treble damages exceeding $750 million against defendants including Michael Moe and Peter Ritz.

The U.S. District Court for the Southern District of Florida denied all motions to dismiss filed by defendants in Genius Group's RICO lawsuit. GlobeNewswire reported that the ruling permits the company to proceed with its claims under the Racketeer Influenced and Corrupt Organizations Act against four individuals, including Michael Moe and Peter Ritz, with the company seeking treble damages exceeding $750 million.

This legal milestone follows a session where GNS closed at $0.1456 on September 29, 2026, with the stock trading between a day low of $0.141 and a high of $0.1589. The lawsuit alleges that the defendants made false representations to deceive the company into agreements that allowed for the extortion of millions of dollars in cash and stock.