Artificial intelligence driven by the firm Genius Group plans to distribute potential wins from billions of dollars suits to shareholders and use a part to expand Bitcoin’s treasury, the company said.
In a press release of Thursday, the board of directors in the Genius Group Approved The distribution plan for repurcing of any wins from two suits seeking joint injury of more than $ 1 billion.
A lawsuit was filed under the Racketeer Influenced and Corrupt Organizations Act (RICO), looking for injuries of more than $ 750 million against LZGI International. The second is not yet filed, according to Genius Group CEO Roger Hamilton.
Hamilton said the company hopes to claim at least $ 262 million based on 2023 data, with updated numbers that are likely to increase that amount in account for injuries in 2024 and 2025.
Hamilton said the suits aim to recover the injuries caused by shareholders of the defendants.
“The board believes that 100% of any proceeds from the successful outcome of these cases must be directly distributed or re -investing for the benefit of shareholders,” he said.
Divide the lawsuit won in equal halves
According to Hamilton, 50% of wins will be shared with shareholders as a special dividend, while the other half will be redirected to the company’s bitcoin (Btc) Treasury.
If the company wins the same legal battle, shareholders will receive a dividend of $ 7 per part, and the genius will buy and add 5,000 BTC to its treasury at the current market prices of nearly $ 107,000 per Bitcoin.
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Future court wins will also be subject to the distribution plan. However, the company made it clear that “no guarantee” of any win or payout in any case.
The genis group in a bitcoin accumulation spree
On June 17, the Genuis Group expanded its corporate bitcoin treasury by more than 50% After making a series of BTC acquisitions. The company aims to get 1,000 BTC for its corporate treasury.
Genius Group temporarily banned from selling shares, raising funds and using investor funds to buy bitcoin, which Raised after one month.
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