CLASS ACTION DEADLINE TONIGHT: Faruqi & Faruqi, LLP Reminds Gemini Space Station (GEMI) Investors of Securities Class Action Deadline on May 18, 2026

NEW YORK--(BUSINESS WIRE)--May 18, 2026--

Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Gemini Space Station, Inc. (“Gemini” or the “Company”) (NASDAQ: GEMI) and reminds investors of the May 18, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

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Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See  www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Gemini had overstated the viability of its core business as a crypto platform; (2) Gemini had overstated its commitment to and/or the viability of growing its business through expanding its international operations; (3) accordingly, Gemini's post-IPO financial and business prospects were overstated; (4) all of the foregoing raised a non-speculative risk that Gemini was poised for an expensive and disruptive restructuring; and (5) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and misleading at all relevant times.

On September 15, 2025, Gemini filed the prospectus for the IPO on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (together, the "Offering Documents").

Pursuant to the Offering Documents, Gemini issued 15,178,572 shares of the Company's Class A common stock to the public at the Offering price of $28.00 per share for proceeds, before expenses, of $398,437,515 to the Company.

On December 10, 2025, Gemini announced that it would launch a prediction market and offer event contracts to its U.S. customers. At this time, however, the Defendants gave no indication that the Company was poised for an abrupt corporate pivot to a prediction-market-centric business model.

The truth began to emerge on February 5, 2026, when Gemini filed a Regulation FD disclosure on Form 8-K with the SEC, announcing the publication of a blog post authored by Defendants Tyler and Cameron Winklevoss. In this blog post, the Winklevoss brothers announced a corporate pivot to "Gemini 2.0", describing three dramatic changes to Gemini's operations: (1) Gemini's prediction market would be "more front and center in our experience"; (2) Gemini would reduce its workforce by 25%; and (3) Gemini would exit the United Kingdom, European Union, and Australian markets.

On this news, Gemini's Class A common stock price fell $0.64 per share, or 8.72%, to close at $6.70 per share per share on February 5, 2026.

Then, on February 17, 2026, Gemini issued a Current Report on Form 8-K, announcing the departure of Defendant Marshall Beard, its former Chief Operating Officer ("COO"), Defendant Dan Chen, its former Chief Financial Officer ("CFO"), and Tyler Meade, Gemini's former Chief Legal Officer. The Company also offered "preliminary unaudited estimates" of its financial results for the fiscal year ended December 31, 2025, including net revenue of $165 million to $175 million and operating expenses of $520 million to $530 million, an increase of approximately 40% from the previous fiscal year.

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.

On or after February 17, 2026, Defendants updated the live version of the Winklevoss brothers' blog post referenced above, adding language that explicitly tied Gemini's restructuring to the departure of Defendant Chen, Defendant Beard, and Tyler Meade from the Company.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Gemini’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Gemini Space Station class action, go to  www.faruqilaw.com/GEMI or call  Faruqi & Faruqi partner Josh Wilson directly  at 877-247-4292  or 212-983-9330 (Ext. 1310).

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CLASS ACTION DEADLINE TONIGHT: Faruqi & Faruqi, LLP Reminds Gemini Space Station (GEMI) Investors of Securities Class Action Deadline on May 18, 2026

MINNEAPOLIS (AP) — A Minnesota prosecutor on Monday announced charges against an Immigration and Customs Enforcement officer in the nonfatal shooting of a Venezuelan man during the Trump administration’s crackdown in Minnesota.

The officer, Christian Castro, is charged with four counts of second-degree assault and one count of falsely reporting a crime in the Jan. 14 shooting of Julio Cesar Sosa-Celis, Hennepin County Attorney Mary Moriarty said at a news conference. A warrant was issued for his arrest.

“Mr. Castro is an ICE agent, but his federal badge does not make him immune from state charges for his criminal conduct in Minnesota,” Moriarty said, adding that Sosa-Celis never posed a threat. “There is no such thing as absolute immunity for federal officers who commit crimes in this state or any other.”

A federal officer shot Sosa-Celis in the thigh after he and another officer chased a different man to the apartment duplex where the man and Sosa-Celis lived. Moriarty said both Sosa-Celis and the other man were legally in the U.S.

Federal authorities initially accused Sosa-Celis and Alfredo Alejandro Aljorna of beating an officer with a broom handle and a snow shovel during the incident. But a federal judge later dismissed the charges and federal officials opened an investigation into whether two immigration officers lied under oath about what happened.

Minneapolis last month released video of the incident captured from a distance by a city-owned security camera.

Department of Homeland Security and Justice Department officials didn’t immediately respond to emails seeking comment. DHS previously said that lying under oath is a “serious federal offense” and that making false statements could result in an officer being fired or prosecuted.

The administration sent thousands of officers to the Minneapolis and St. Paul area as part of President Donald Trump’s national deportation campaign. DHS, which oversees ICE, called Operation Metro Surge its largest immigration enforcement operation ever and deemed it a success.

But tensions mounted during the weekslong campaign and the shooting deaths of U.S. citizens Renee Good and Alex Pretti by federal officers provoked mass unrest and questions about officers’ conduct.

Hennepin County, which includes Minneapolis, has been conducting investigations into multiple incidents and filed charges last month against an ICE agent for alleged actions while on duty.

Minnesota leaders and the Trump administration have since clashed over which has the authority to investigate and prosecute officers for conduct while on duty. The Trump administration has suggested that Minnesota officials don’t have jurisdiction.

State officials have said they don’t trust the federal government to investigate itself or hold officers accountable.

“There’s no modern precedent for what happened to the people here in Minnesota,” Moriarty said Monday. “So it requires a lot of us to dig in and look at ways to hold people accountable that we probably never thought we would be looking at in our careers.”

Hennepin County continues to investigate Good's and Pretti’s killings and sued the administration in March over access to evidence in the two cases, as well as in the case involving Sosa-Celis. Although Moriarty hasn't charged anyone in either killing, she has said she's confident her office's investigations will bring transparency, even if not criminal prosecution.

Fingerhut reported from Des Moines, Iowa.

FILE - Hennepin County Attorney Mary Moriarty explains her progressive approach to prosecutions, June 19, 2024, at her office in Minneapolis, Minn. (AP Photo/Mark Vancleave, File)