Michael Celor set a collective lawsuit to violate securities laws and issue wrong and misleading data
An international law firm brings a collective lawsuit against the strategy – formerly Microstrate – and its founder Michael Sailor.
According to a new press releasePOMERANTZ LLP announces a group lawsuit against Bitcoin (BTC).
Pomerantz says that the lawsuit on behalf of any person has acquired strategic securities between April 30, 2024 and April 4, 2025, and claims that the strategy has made “wrong and financially misleading” about its profit by deleting important information from its disclosure.
The press statement says:
“During the semester period, the defendants made wrong and misleading data regarding strategy’s work, operations and prospects. Specifically, the defendants made investment and/or failed to disclose this: (1). The losses strategy can realize the value of its digital assets after its approval of the ASU 2023-08;
According to the announcement, the strategy revealed an unrealized loss of $ 5.91 billion with the US Securities and Stock Exchange Committee (SEC) earlier this month after the adoption of the updated accounting methods this year, after using a previously different model.
After the SEC file, the strategy warned investors that they may not “restore profitability in future periods.”
According to Bitcontreasuries.net, the strategy has 568,840 BTCs, which is worth more than $ 59.8 billion, and Declare Another large purchase of coins on the same day that the lawsuit was launched.
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