Summary by Futu AI
Genius Group Limited, a foreign private issuer, has filed a Form 6-K with the United States Securities and Exchange Commission for the month of October 2024. The company announced on October 2, 2024, that it is engaging counsel for an independent investigation into allegations concerning LZG International Inc and its subsidiary, FB Primesource Acquisition LLC, including potential irregularities in asset transactions. Concurrently, Genius Group is appointing The Basile Law Firm P.C. as its general litigation counsel. The Board of Directors is awaiting the investigation's outcome before making any final decisions regarding the transaction's status and subsequent actions. Due to these events, Genius Group is withholding the finalization of its financial results for the first half of 2024 and is withdrawing its guidance for the year.