New York Law Firm Files Class Action Lawsuit Against Strategy, Alleging Misleading Bitcoin Investment Disclosure

By: theblockbeats.news|2025/07/03 17:16:40

0

Share

copy

BlockBeats News, July 3rd, according to The Block, the New York-based law firm Pomerantz LLP recently filed a class-action lawsuit against Michael Saylor-led Strategy company (formerly MicroStrategy), alleging that the company made false and misleading statements about the profitability of its Bitcoin investment strategy, in violation of federal securities laws. This lawsuit, filed in the Eastern District of Virginia, represents Strategy investors from April 30, 2024, to April 4, 2025. Other investors can join the class-action lawsuit by July 15th.

The key allegations of the lawsuit include that Strategy overstated the profitability of its Bitcoin investment strategy and fund management business, downplayed the volatility risk of Bitcoin, and failed to adequately disclose the impact of adopting the new accounting standard (ASU 2023-08) on its financial statements. Specifically, in the first quarter of 2025, due to the adoption of the new standard, Strategy reported a $5.9 billion unrealized loss on digital assets, causing the stock price to drop over 8% at that time. Pomerantz accuses the company of emphasizing only Bitcoin gains while concealing potential significant losses under fair value measurement.

You may also like

SBF's little brother turned 225 million into 5.5 billion in one year

SBF's little brother turned 225 million into 5.5 billion in one year

Let’s meet the 24-year-old new "stock god" of AI.

In a World of Disruption, How Can Humanities Workers Better Use AI?

In a World of Disruption, How Can Humanities Workers Better Use AI?

This AI in Practice experience is not about teaching you a few magical keywords to memorize; it's more like a methodology.

Anthropic Open Letter: The Hypocritical Sam Altman, PUA Master

Anthropic Open Letter: The Hypocritical Sam Altman, PUA Master

OpenAI's extensive PR rhetoric with the Department of War on these issues is either lying or deliberately creating confusion. These facts reveal a pattern of behavior, a pattern I have seen many times in Sam Altman, and I hope everyone can recognize it

On the same day that Kraken's Fedmaster Account was approved, the banking lobbying group immediately launched a counterattack.

On the same day that Kraken's Fedmaster Account was approved, the banking lobbying group immediately launched a counterattack.

Banking Lobby Group Slams Kraken's Approval for "Limited Purpose" Fed Master Account.

Bitwise: This weekend's attack accelerated the on-chain migration of the financial world

Bitwise: This weekend's attack accelerated the on-chain migration of the financial world

The never-ending market has become a global obsession.

Market Downturn: Which Assets Are Worth Watching?

Market Downturn: Which Assets Are Worth Watching?

"Whether it can bring benefits to the holder" is one of the key reference indicators.

The real opportunity of stablecoins is not to kill Visa

The real opportunity of stablecoins is not to kill Visa

In the new merchant ecosystem born in the AI era, stablecoins will become the first widely adopted payment infrastructure.

Trump's AI Farce: Insult if You Don't Pay

Trump's AI Farce: Insult if You Don't Pay

Dario's all-hands email is full of ad hominem attacks

US & Canada Crypto Tax Season 2026: Official Tax Reporting Support from WEEX × KoinX

US & Canada Crypto Tax Season 2026: Official Tax Reporting Support from WEEX × KoinX

Prepare for US & Canada crypto tax season 2026. Learn how to export your WEEX transaction history and access official reporting support through our partnership with KoinX.

Conversation between Tom Lee and "The Big Short" Author: AI has detected bubble signal, crypto correction due to gold liquidity being "siphoned off"

Conversation between Tom Lee and "The Big Short" Author: AI has detected bubble signal, crypto correction due to gold liquidity being "siphoned off"

A real bubble occurs when everyone is absolutely certain that "this is definitely not a bubble."

The true reason for Claude's ban, Kraken accessing the Federal Reserve payment system, What is the English community paying attention to?

The true reason for Claude's ban, Kraken accessing the Federal Reserve payment system, What is the English community paying attention to?

What Was Trending in the Last 24 Hours?

「Buying the Dip」 of 400,000 BTC: Is $74,000 a Rebound or a Reversal?

「Buying the Dip」 of 400,000 BTC: Is $74,000 a Rebound or a Reversal?

BTC price hits a new monthly high.

OpenClaw, Another Batch of Middle Class Jobless

OpenClaw, Another Batch of Middle Class Jobless

Time will not wait for anyone.

Morning News | Backpack will launch on-chain IPO subscription service; Predict.fun strategically acquires on-chain prediction platform Probable; SoFi partners with Mastercard for strategic cooperation

Morning News | Backpack will launch on-chain IPO subscription service; Predict.fun strategically acquires on-chain prediction platform Probable; SoFi partners with Mastercard for strategic cooperation

March 4 Market Important Events Overview

Inventorying the Washington power in the crypto space, who is speaking out for U.S. crypto legislation?

Inventorying the Washington power in the crypto space, who is speaking out for U.S. crypto legislation?

From ideology to ecological initiatives, the lobbying power of American cryptocurrency is undergoing a comprehensive evolution, ushering in a new era of specialized and refined policy games.

650 million dollars, 1.5 billion dollars, 2 billion dollars, the crypto VC landscape has changed!

650 million dollars, 1.5 billion dollars, 2 billion dollars, the crypto VC landscape has changed!

Homogenized industries are ultimately fragile; only when different species can emerge does the market truly come alive.

Why prediction markets are the largest untapped collateral pool in DeFi

Why prediction markets are the largest untapped collateral pool in DeFi

From "gambling" to "financable assets": prediction markets are becoming the next hundred billion collateral pool in DeFi, opening new frontiers of capital efficiency.

500% XAUT Staking, Zero-Fee Gold Futures and $100K Rewards: Why Traders Are Turning to WEEX for Tokenized Gold

500% XAUT Staking, Zero-Fee Gold Futures and $100K Rewards: Why Traders Are Turning to WEEX for Tokenized Gold

Explore WEEX's $100,000+ gold campaign featuring 500% XAUT staking, zero-fee gold contracts, and $30,000 PAXG rewards. Trade tokenized gold today.

SBF's little brother turned 225 million into 5.5 billion in one year

Let’s meet the 24-year-old new "stock god" of AI.

In a World of Disruption, How Can Humanities Workers Better Use AI?

This AI in Practice experience is not about teaching you a few magical keywords to memorize; it's more like a methodology.

Anthropic Open Letter: The Hypocritical Sam Altman, PUA Master

OpenAI's extensive PR rhetoric with the Department of War on these issues is either lying or deliberately creating confusion. These facts reveal a pattern of behavior, a pattern I have seen many times in Sam Altman, and I hope everyone can recognize it

On the same day that Kraken's Fedmaster Account was approved, the banking lobbying group immediately launched a counterattack.

Banking Lobby Group Slams Kraken's Approval for "Limited Purpose" Fed Master Account.

Bitwise: This weekend's attack accelerated the on-chain migration of the financial world

The never-ending market has become a global obsession.

Market Downturn: Which Assets Are Worth Watching?

"Whether it can bring benefits to the holder" is one of the key reference indicators.

Popular coins

Latest Crypto News

17:44

Morgan Stanley: Soaring energy prices hinder interest rate cuts, expect the European Central Bank to remain inactive this year

According to Jin10 data, Morgan Stanley became the latest Wall Street brokerage on Thursday to predict that the European Central Bank will keep interest rates unchanged until 2026, citing the potential inflation risks from the Middle East conflict. The brokerage had previously expected the ECB to cu...

17:44

Iran's Foreign Minister condemns the U.S. attack on Iranian warships

Iranian Foreign Minister Amir-Abdollahian said today (March 5) that the United States will "eventually regret the precedent it has set" by attacking an Iranian warship in international waters. Amir-Abdollahian stated on social media that the Iranian frigate was a "guest of the Indian Navy," carrying...

17:44

European Central Bank Vice President: If the situation in Iran affects inflation expectations, the European Central Bank may change its policy stance

According to Jinshi reports, European Central Bank Vice President Guindos stated that if inflation expectations change due to the situation in Iran, the European Central Bank may alter its policy stance.

17:44

Iran is prepared to abandon its nuclear program, provided that the United States offers a satisfactory alternative

The Iranian Deputy Foreign Minister stated that Iran is prepared to abandon its nuclear program, provided that the United States offers a satisfactory alternative.

17:44

Data: Cumberland-related wallets withdrew 46,620 ETH from exchanges, worth $98.8 million

According to Lookonchain monitoring, in the past 16 hours, 2 wallets suspected to be related to Cumberland (0xFC82...B88b, 0xe287...17b5) have withdrawn 46,620 ETH from Binance, Coinbase, and Copper, worth 98.8 million USD.