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. 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. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/wacomka/Sensvector The post Michael Saylor Hit With Class Action Lawsuit for Allegedly Violating Securities Laws and Issuing False and Misleading Statements appeared first on The Daily Hodl .
