A securities class action has been filed against Gemini Space Station, Inc. (GEMI) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired: (a) Gemini Class A common stock pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the Company’s initial public offering conducted on or about September 12, 2025 (the “IPO” or “Offering”); and/or Gemini securities between September 12, 2025 through February 17, 2026. This case has been filed in the USDC – SDNY.
On or around September 12, 2025, Gemini conducted its initial public offering, selling 15,937,501 shares of Class A common stock priced at $28.00. Then, on February 17, 2026, Gemini disclosed in a filing with the U.S. Securities and Exchange Commission “that it will be parting ways with each of Marshall Beard, Chief Operating Officer, Dan Chen, Chief Financial Officer, and Tyler Meade, Chief Legal Officer, each effective as of February 17, 2026[.]”
On this news, Gemini’s stock price fell $0.975 per share, or 12.9%, to close at $6.585 per share on February 17, 2026.