A class action lawsuit has been filed against Strategy Michael Saylor

Investors accuse the company of making false claims about the bitcoin strategy that led to financial risks.

Strategy, the company of Michael Saylor that crowns itself as the largest corporate holder of Bitcoin (BTC) in the world, is facing a lawsuit in the United States related to its cryptocurrency purchases.

According to the company's filing with the U.S. Securities and Exchange Commission (SEC) on May 19, the lawsuit—filed by plaintiff Anas Hamza—alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5. The complaint seeks to represent a class of investors who purchased shares of the company between April 30, 2024, and April 4, 2025.

The lawsuit highlights that “the defendants have systematically provided enthusiastic assessments of Strategy's performance as a bitcoin treasury company following the adoption of ASU 2023-08,” emphasizing metrics such as BTC Yield, BTC Gain, and BTC $ Gain, while “hiding the enormous losses that the company could suffer.”