$7 Dividend and 5,000 BTC if Lawsuits Are Won

On Thursday, Genius Group’s board approved a distribution plan in case of successful outcomes from two major lawsuits. One of them, a RICO lawsuit against LZGI International, seeks $750 million in damages. The other is yet to be filed.

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CEO Roger Hamilton stated that the company expects to claim at least $262 million based on 2023 data, which is likely to rise after including figures from 2024 and 2025.

“The Board believes that 100% of any proceeds from these cases should benefit shareholders.” said Hamilton.

If both lawsuits are won, half of the proceeds will be distributed to shareholders via a special dividend of $7 per share, and the other half will be used to buy approximately 5,000 BTC, based on current market prices.

Ongoing BTC Accumulation Strategy

On June 17, Genius Group had already increased its BTC reserves by over 50%, aiming to eventually hold 1,000 Bitcoin. The company had previously faced a temporary ban from raising funds for BTC acquisitions, which has now been lifted.

Legal Outcomes Uncertain

While the plan signals strong support for digital asset adoption, Genius Group emphasized that lawsuit outcomes and resulting payouts are not guaranteed.

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The post Genius Group Eyes 5,000 BTC Buy From Billion-Dollar Lawsuit Winnings appeared first on Coin Engineer.