Jeff Gutchess of AXS Law Group. Courtesy photo AXS Law Sues LZGI and Genius Group in $30 Million Fraud Case
"We're going with a one-two punch, with the class action proceeding in New York and the derivative proceeding here in Miami," Gutchess explained.
October 11, 2024 at 04:22 PM
5 minute read
What You Need to Know
- The plaintiff claimed that a fraudulent LGZI-GNS merger defrauded shareholders of $30 million
- AXS filed a class action in the Southern District of New York and plans to file a derivative action in Miami on Monday
- AXS just launched another office in Washington, D.C
AXS Law, on behalf of shareholders of LZG International (LGZI), filed a federal class action in the Southern District of New York against LGZI, Michael Moe, and Peter Ritz, as well as Roger Hamilton and Genius Group (GNS).
Michael Moe is a director of LGZI and served as chairman of the board of directors of GNS until late September 2024. Ritz is the CEO and director of LGZI. Until late September 2024, he also held positions as director and chief revenue officer at GNS.
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