Federal Court Rules in Favor of Genius Group, Denying All Motions to Dismiss in RICO Lawsuit
A federal judge in the Southern District of Florida denied all motions to dismiss in Genius Group's RICO lawsuit against Michael Moe, Peter Ritz, John Clayton, and Michael Carter, allowing the claims to proceed. The complaint alleges the defendants used LZG International to defraud Genius Group into an asset purchase agreement and extort millions in cash and stock, with the company seeking treble damages of over $750 million and nearly $1 billion total.
Key figures
- Deal Value Usd
- $750 million
- Icc monetary relief
- $8 million
- Shares returned icc
- 7400000
- Total damages sought
- nearly $1 billion
- Treble damages claimed
- over $750 million
AI analysis
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