Genius Group Appoints Mark R. Basile, Toxic Debt Specialist, as Special Counsel to join its Legal Team
SINGAPORE, March 06, 2023 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading entrepreneur edtech and education group, announces that it has retained attorney Mark R. Basile and his toxic debt litigation firm, The Basile Law Firm P.C., to act as Special Counsel to its legal team in the Company’s complaint filed in the United States District Court Southern District of New York, Case Number 1:23-cv-01639 against Alto Opportunity Master Fund, SPC – Segregated Master Portfolio B, Ayrton Capital, LLC and Waqas Khatri (“The Parties”).
This lawsuit was filed by Warshaw Burstein LLP of New York and Christian Levine Law Group LLC of Texas, two firms that possess extensive experience and achieved considerable success in litigating stock manipulation cases.
Mr. Basile, a former law professor, has been battling convertible toxic debt for the last 7 years. In 2021, his firm secured a landmark decision against a toxic lender (Adar Bays) that has set the standard to save hundreds of public companies’ tens of millions of dollars. Since that decision, his firm has vacated several federal trial court judgments and consequently many of the toxic lenders have not filed suits against public companies in the last 18 months.
His firm is also pursuing several RICO actions at present against known toxic lenders for the collection of unlawful debt and as a result of his actions the Southern District of New York recently denied a toxic lender’s motion to dismiss RICO claims. The firm has also published articles and advice for companies that believe they may be victims of toxic debt, counterfeit shares and market manipulation, a summary of which can be found at: https://www.thebasilelawfirm.com/blog
Roger Hamilton, CEO of Genius Group, said “We are pleased to welcome Mr. Basile to our legal team. Mr. Basile understands how toxic loans negatively affect retail shareholders and will be assisting our counsel in this and other litigation we plan.”
About Genius Group
Genius Group is a world leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed in today’s market. The group has a group user base of 4.3 million users in 200 countries, ranging from ages 0 to 100.
For more information, please visit https://www.geniusgroup.net/
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Flora Hewitt, Vice President of Investor Relations and Mergers and Acquisitions
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Released March 6, 2023