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Class Action Lawsuit Filed Against Strategy Over Alleged Bitcoin Misleading

Bitcoinist LogoBitcoinist14h ago

Class Action Lawsuit Filed Against Strategy Over Alleged Bitcoin Misleading - Bitcoinist

Quick Summary:

On May 16, a class action lawsuit was filed against Michael Saylor’s Strategy (previously MicroStrategy) and its top executives, including President and CEO Phong Le and Chief Financial Officer Andrew Kang.  The plaintiff, Anas Hamza, alleges that the Bitcoin (BTC) proxy firm misrepresented crucial aspects of its Bitcoin investment strategy, potentially violating federal securities laws.

Specifically, the case cites violations of the Securities Exchange Act, which governs the accurate disclosure of information to investors, searching damages for these alleged violations.

Michael Saylor has also previously promised the firm’s investors that the company would be fine even if the cryptocurrency’s value dropped 90% and stayed that low for another four or five years.

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Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-20 @ 12:00:48 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 446 words

Reading Time: 3 minutes read

Sentences: 40 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 28873289

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About Bitcoinist

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Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 19 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #105

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The story "Class Action Lawsuit Filed Against Strategy Over Alleged Bitcoin Misleading" was covered 14 hours ago by Bitcoinist, a news publisher based in Hungary.

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