Pomerantz Law Firm Announces the Filing of a Class Action Against Gemini Trust C… – Press Release

NEW YORK, Feb. 04, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Gemini Trust Company, LLC, and certain officers.  The class action, filed in the Supreme Court of the State of New York, County of New York, and docketed under Index No. 650076/2023, is on behalf of a class consisting of all persons and entities other than Defendants that invested in Gemini Earn (also referred to herein as “Earn”) or otherwise purchased Gemini Interest Accounts (“GIAs”) and were harmed thereby.  Plaintiff pursues claims against the Defendants under the Securities Act of 1933 and the New York General Business Law, as well as common law claims for fraudulent inducement, fraudulent concealment, fraudulent misrepresentation, negligent misrepresentation, breach of contract, unjust enrichment, and civil conspiracy.

If you invested in Gemini Earn or otherwise purchased GIAs and were harmed thereby, a copy of the Complaint can be obtained at www.pomerantzlaw.com.   To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and a summary of their transactions in Gemini Earn and/or GIAs. 
Gemini is a privately-owned cryptocurrency exchange launched in 2014 by Defendants Cameron Winklevoss and Tyler Winklevoss and headquartered in New York, New York.  Gemini purportedly lets customers buy, sell, trade, and securely store more than 60 cryptocurrencies.  One of the products Gemini offers is the GIA, a yield-bearing account sold through the Company’s lending platform Gemini Earn, which allows users to lend out their crypto holdings in exchange for interest payments.

According to the Gemini website, the Earn platform is partnered with various third-party crypto lenders who act as “accredited borrowers” of Gemini customer assets.  Gemini…