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The Genius Group board has approved the distribution of potential $1 billion lawsuit proceeds to shareholders and the purchase of Bitcoin.
Techub News reports that Genius Group, a publicly listed AI company in the United States (NYSE: GNS), has announced that its board of directors has approved a distribution plan that covers all future legal victory proceeds. The net proceeds will be evenly distributed to shareholders and used to purchase Bitcoin for its Bitcoin treasury, with 50% of the recovered net losses allocated for Bitcoin purchases. Genius Group CEO Roger Hamilton stated, "The company is facing two legal lawsuits, one has been filed and the other is pending. The total compensation we are seeking exceeds $1 billion. Since the purpose of the company filing these two lawsuits is to recover losses directly caused to our shareholders by third parties, the board believes that all proceeds from these cases, once victorious, should be 100% directly distributed to shareholders or reinvested."