Michael Sayler again indicated that the strategy would buy more bitcoins, although the company was earlier known as microsttetie and its top brass was killed on its bitcoin holdings with more investor lawsuits over the first quarter loss of $ 5.9 billion.
Silar Posted Showing a chart strategy Previous bitcoin (BTC) Shops on Sunday with caption: “Nothing stops this orange.”
His past Similar cryptic x post Bitcoin has been a precursor to the strategy to buy. The company has the largest bitcoin holding of all public companies at 592,100 BTC, priced at $ 59.7 billion, with bitcoin trading to just $ 101,000.
Top of strategy sued the loss of $ 5.9 billion bitcoin
Saylor’s post, after the strategy, and the top officials of the company were sued by an investor on Thursday, who claimed that he had violated his feduri duties before reporting the loss of multibillion-dollars bitcoin in his first quarter results.
Share -derived complaint by Abhay Parmar, a virginia lodged in the federal court, allegedly Sayler, CEO of Strategy Fong Le, Financial Head Andrew Kang and four board directors made “physically wrong and misleading statements” about an accounting practice change.
The complaint stated that in January, the strategy implemented a Financial Accounts Standards Board Rules which came into force A month agoCrypto’s corporate holders allow to use the estimated market value of their crypto in their balance sheet.
The suit alleged that accounting change made a strategy to record $ 5.9 billion unrealistic losses on its bitcoin for the Q1 results shared in early April, falling the price of the company’s stock nearly 9%.
Microstrategy Inc. (MSTR) shares are about 28% above this year, at least just less than $ 238 in early April. Source: Google Finance
Leading the results, the complaint claimed that the strategy officials failed to correctly reveal the full range of the possible impact of accounting change “and did not reveal that” the risk -related risk representation was more than “the risk representation associated with the instability of bitcoin. ,
The suit claimed, “When bitcoin-powered investment strategy and applying Treasury options were much less profitable than representing the company’s profitability,” the suit claimed.
The strategy allegedly earns $ 31 million with “inflated” stock sales.
The complaint also accused the officials of the strategy of being “attractive internal sutras engaged in sale” of the company’s stock, while it was “artificially inflated” before making the impact of accounting changes public.
Parmar claimed that the trades claimed that the authorities closed with about $ 31.5 million.
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The complaint also accused the officials of misusing their control, gross mismanagement and ruin of corporate assets.
Class action incorrectly introduces strategy
Strategy was also killed A proposed square-action lawsuit In mid -May, similarly on the adoption of FASB Crypto Accounting Rules, which allegedly contributed to its Q1 loss.
He suitFiled by Anas Hamza, similarly it was alleged that the company has failed to reveal the scope of special nature or expected impact “when it adopted a new way of accounting.
The strategy said in response to the proposed class action that it would “strictly defend against these claims” in response to the proposed class action.
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