According to Odaily Planet Daily, Strategy (formerly MicroStrategy) is facing at least five class action lawsuits initiated by law firms for alleged securities fraud related to its Bitcoin investment statements. Several legal experts have indicated that it is not uncommon for multiple law firms to compete for the lead plaintiff position, as the leading firm can receive substantial attorney fees. The lawsuits stem from Strategy's purchase of $7.7 billion in Bitcoin in the first quarter of 2024, resulting in nearly $6 billion in unrealized losses due to the decline in coin prices. Currently, Strategy has responded in SEC filings stating that it will actively address the related allegations but cannot predict the outcome of the cases.

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