Citadel Securities LLC and Virtu Americas LLC placed and rapidly canceled orders for large volumes of Genius Group Ltd. stock to deliberately deflate its price for their own benefit, the education company alleges.
The broker-dealer firms employed a manipulative trading practice called spoofing over a period of about three years, Genius says in its class complaint filed Nov. 14 in the US District Court for the Southern District of New York. As a share seller itself, the company sued on behalf of a proposed class of those who sold or disposed of the stock ...
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