Investors at the prominent Bitcoin Treasury Company Inc. have withdrawn the proposed class action lawsuit that accused the executives of the company and the shareholders who are misunderstood in terms of the Bitcoin -centered investment approach and the recent changes in accounting rules.
Case
reported that the manuscript led by ANAS HAMZA has filed a class action lawsuit against strategy INC. in the US District Court in Eastern Virginia, co -founder Michael J. Saylor, Phong LE, and Andrew Kang.
The case submitted by the Pomerantz LLP violated the Federal Securities Law, especially the 10B-5, and the 20 (A) of the 1934 Securities Exchange Act. In particular, the complaint argued that the strategy disrupted the financial risk of aggressive Bitcoin accumulation strategy and could not share appropriate information on the expected profitability of the encryption investment.
This lawsuit also includes executives of ASU (Accounting Standards Update) No. He argued that he did not disclose the potential impact of 2023-08.
The manuscript voluntarily dismisses the claim
Interestingly, in the Bloomberg Law Report on Friday, senior manuscripts and shareholders have now voluntarily dismissed their arguments for strategy Inc. and his officers in a joint contract. In particular, dismissal is applied with prejudice to the nominated manuscript, that is, it means that this law does not expand to potential stones, but cannot re -form the same claim.
The lawsuit, which deals with the class period from April 30, 2024 to April 4, 2025, has found untimled damages, legal costs and other reliefs. However, the plaintiff’s decision to finish the case without trial or agreement. In the previous application, the strategy argued that this argument “actively” defending itself and disclosing the risks of bitcoin and accounting practices is accurate and complete.
By voluntary dismissal, the company avoids long -term legal battles with major Bitcoin Treasury holders. The strategy has recently created another Bitcoin mass financing through other stock sales. SAYLOR-LED Company is known to have issued a new $ 355 million stock using a profit that can buy 3,081.
At the time of writing, the strategy of Bitcoin Holdings is 632,457, reaching about $ 68.5 billion. Meanwhile, MSTR is traded at $ 334.41, respectively, at 4.43%and 10.23%, respectively, for the last day and five days, respectively.
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