An international law firm is bringing a class action lawsuit against Strategy – formerly MicroStrategy – and its founder, Michael Saylor.
According to a new press release, Pomerantz LLP is announcing a class action lawsuit against the Bitcoin (BTC) treasury firm.
[adinserter block="1"]Pomerantz says the lawsuit is on behalf of anyone who acquired Strategy securities between April 30, 2024, and April 4, 2025, and alleges that Strategy made “materially false and misleading statements” about its profitability by omitting critical information from its disclosures.
Says the press release:
“The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding Strategy’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the anticipated profitability of the Company’s bitcoin-focused investment strategy and treasury operations was overstated; (ii) the various risks associated with bitcoin’s volatility and the magnitude of losses Strategy could recognize on the value of its digital assets following its adoption of ASU 2023-08 were understated; and (iii) as a result, Defendants’ public statements were materially false and misleading at all relevant times.”
According to the announcement, Strategy disclosed an unrealized loss of $5.91 billion with the U.S. Securities and Exchange Commission (SEC) earlier this month after adopting updated accounting methods this year, after previously using a different model.
Following the SEC filing, Strategy warned investors that they might not “regain profitability in future periods.”
According to BitcoinTreasuries.net, Strategy has 568,840 BTC worth over $59.8 billion, and announced another large purchase of coins on the same day the lawsuit was launched.
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