🚨📢New Lawsuit Targets Michael Saylor and MicroStrategy
Portnoy Law filed a class action lawsuit against MicroStrategy (rebranded as Strategy) for investors who purchased shares between April 30, 2024, and April 4, 2025.
The suit alleges overstated profitability of its Bitcoin strategy, downplayed volatility risks, and non-compliance with accounting rule ASU 2023-08.
In April, $5.91B in unrealized Bitcoin losses led to a ~9% stock price drop. Investors can join the lawsuit until July 15, as Saylor’s Bitcoin approach faces legal scrutiny.
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