Michael Saylor and Strategy Face Lawsuit Over Alleged Securities Law Breaches
Source: theblock.co — 5/19/2025
Strategy, a bitcoin treasury company founded by Michael Saylor, is facing a class action lawsuit from investors. Filed by Pomerantz LLP on behalf of Anas Hamza and others, the lawsuit claims the company made false statements about its bitcoin strategy's profitability and underrepresented associated risks from April 2024 to April 2025. CEO Phong Le and CFO Andrew Kang are also named in the suit. Strategy reportedly holds 576,230 BTC, valued at over $59 billion, but the lawsuit criticizes its accounting methods for not reflecting fair value properly. The firm plans to dispute these claims vigorously.