Genius Group wins arbitration award of 7.4 million shares and $8 million

Genius Group Limited (NYSE American: GNS) received a final arbitration award from the International Chamber of Commerce in its proceeding against LZG International, Inc., the company announced.

The ICC arbitration award entitles Genius Group to the return of 7,387,374 shares of its common stock and a cash payment of $7,971,168.53.

The education company stated it intends to take necessary steps to enforce its legal rights and remedies. Genius Group's legal team is evaluating next steps for related matters, including the case Genius Group Limited v. LZG International, Inc. et al. in the Southern District of New York and a related appeal in the Second Circuit Court of Appeals.

Genius Group describes itself as an AI-powered education group that serves 6 million users in over 100 countries through various educational models including Genius School, Genius Academy, Genius Resorts and Genius City.

The information is based on a company press release statement.

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