- Buy Crypto
- Markets
- Futures
- Spot
- Copy Trade
Earn- More
New York law firm files class action lawsuit against Strategy, accusing it of misleading investors about Bitcoin strategy profitability
Odaily News New York law firm Pomerantz LLP has filed a class action lawsuit against Strategy, Inc. (formerly MicroStrategy) in the Eastern District Court of Virginia, alleging that it violated federal securities laws by issuing false and misleading statements about the profitability of its Bitcoin investment strategy between April 30, 2024 and April 4, 2025.
The lawsuit alleges that Strategy exaggerated the profitability of its bitcoin investments and financial operations, downplayed the risk of price volatility, and failed to fully disclose the actual impact on its financial statements after adopting FASB accounting standard ASU 2023-08, which requires crypto assets to be measured at fair value, replacing the previous cost impairment model that recognized impairment only when prices fell.
Pomerantz pointed out that the company generated $5.9 billion in unrealized losses based on new accounting standards in the first quarter of 2025, causing the stock price to fall by more than 8%, but the company continued to issue optimistic forecasts and concealed potential huge losses. Other investors can now apply to join the class action lawsuit before July 15. (The Block)
You may also like
Why DePIN Is the Next Big Revolution in 2026-2028
Key Takeaways DePINs have emerged as a vital solution to the infrastructural demands of AI, moving from theoretical…
Massive US Storm Forces Bitcoin Miners Offline – What Does That Mean for Bitcoin Holders?
Key Takeaways A severe Arctic storm in the U.S. has significantly impacted Bitcoin mining operations, resulting in substantial…
7 Best Crypto Lightning Network Wallets in 2026: Evaluated & Ranked
Key Takeaways Lightning Network wallets enable fast and cost-effective Bitcoin transactions by using off-chain channels. A variety of…
Solana Price Prediction: Institutions Just Chose SOL Over BTC, ETH, and XRP – Is This the Beginning of a Massive Flippening?
Key Takeaways Institutional investors are increasingly favoring Solana over traditional giants like Bitcoin (BTC), Ethereum (ETH), and XRP.…
Penguin Meme Coin Surged 18,000% After Viral White House Post
Key Takeaways: The Penguin meme coin, known by its ticker PENGUIN, experienced a massive surge in market capitalization…
XRP Price Prediction: XRP Ledger Blasts Past $2 Billion in Tokenized Assets – Why This Could Catapult XRP Parabolic
Key Takeaways XRP Ledger’s (XRPL) tokenized assets have surged past $2 billion, cementing its position in both traditional…
Dogecoin Price Forecast: Impending Developments Could Determine DOGE’s Future
Key Takeaways Dogecoin price momentum has stalled, placing it at a critical juncture between recovery and further losses.…
Shiba Inu Price Prediction: Over 250 Billion SHIB Withdrawn – Are We Hours Away From a Surprise Rally?
Key Takeaways Significant SHIB withdrawals signal potential bullish trends, with over 250 billion tokens moved from exchanges to…
Elon’s Grok AI Predicts the Price of XRP, Solana, and PEPE by the End of 2026
Key Takeaways Grok AI, a project rivaling ChatGPT, provides optimistic forecasts for the future prices of XRP, Solana,…
Pump.fun ($PUMP) Price Prediction 2026, 2027 – 2030
Pump.fun has launched its $PUMP token in a much-anticipated ICO, quickly reaching a $2 billion market cap. The…
Is SOL Prepared for a New All-Time High? Solana Captures Nearly Half of Blockchain Activity in Current Bull Run
Key Takeaways: Solana has become a dominant force in the blockchain space, handling nearly half of all blockchain…
XRP (XRP) Price Prediction 2026, 2027 – 2030
Key Takeaways XRP’s price is predicted to fluctuate between $2.05 and $2.32 in 2026, potentially reaching between $3.23…
XRP Price Prediction: How the October 18-25 SEC Deadlines Could Induce a Breakout
Key Takeaways: The approaching October 18-25 SEC deadlines for spot XRP ETF applications could significantly impact XRP’s market…
Best Crypto to Buy Now January 23 – XRP, Dogecoin, PEPE
Key Takeaways Regulatory Shifts: U.S. crypto regulation is becoming inevitable, affecting investment outlooks, especially for altcoins. XRP Developments:…
Ethereum Price Prediction: Ethereum Developers Prepare for Quantum Computers – Major Update on the Horizon?
Key Takeaways The Ethereum Foundation has initiated a post-quantum security team to counteract threats posed by future quantum…
XRP Price Prediction: Institutional On-Ramp Commences in October – Can XRP Rise as Wall Street’s Next Favorite?
Key Takeaways Institutional interest in XRP derivatives is on the rise, suggesting a promising future for the cryptocurrency.…
6 Leading Decentralized Prediction Markets Without KYC in 2026
Key Takeaways Decentralized prediction markets enable users to speculate on various real-world events without intermediaries, offering freedom from…
8 Most Expensive Cryptocurrencies by Price in 2026
Key Takeaways Bitcoin remains the most expensive cryptocurrency as of January 2026, valued at $88,877.30 per coin, highlighting…
Why DePIN Is the Next Big Revolution in 2026-2028
Key Takeaways DePINs have emerged as a vital solution to the infrastructural demands of AI, moving from theoretical…
Massive US Storm Forces Bitcoin Miners Offline – What Does That Mean for Bitcoin Holders?
Key Takeaways A severe Arctic storm in the U.S. has significantly impacted Bitcoin mining operations, resulting in substantial…
7 Best Crypto Lightning Network Wallets in 2026: Evaluated & Ranked
Key Takeaways Lightning Network wallets enable fast and cost-effective Bitcoin transactions by using off-chain channels. A variety of…
Solana Price Prediction: Institutions Just Chose SOL Over BTC, ETH, and XRP – Is This the Beginning of a Massive Flippening?
Key Takeaways Institutional investors are increasingly favoring Solana over traditional giants like Bitcoin (BTC), Ethereum (ETH), and XRP.…
Penguin Meme Coin Surged 18,000% After Viral White House Post
Key Takeaways: The Penguin meme coin, known by its ticker PENGUIN, experienced a massive surge in market capitalization…
XRP Price Prediction: XRP Ledger Blasts Past $2 Billion in Tokenized Assets – Why This Could Catapult XRP Parabolic
Key Takeaways XRP Ledger’s (XRPL) tokenized assets have surged past $2 billion, cementing its position in both traditional…
App