According to a message from the Gate News bot, a Form 8-K filed by Strategy (formerly MicroStrategy) with the U.S. SEC shows that Strategy and its CEO Michael Saylor, CFO Phong Le, and executive Andrew Kang are facing a class action lawsuit in the Eastern District Federal Court of Virginia on May 16.
The plaintiff pointed out that between April 2024 and April 2025, the company made misleading statements regarding its Bitcoin investment strategy and financial expectations, and did not fully disclose the volatility of Bitcoin and the risks related to the new accounting standards. The specific amount of compensation for this lawsuit has not been disclosed.
Strategy has stated that it will actively defend itself, and it is currently impossible to determine the outcome of the lawsuit and potential losses.
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