| COMPANY |
MicroStrategy Incorporated d/b/a Strategy |
| COURT |
United States District Court for the Eastern District of Virginia |
| CASE NUMBER |
25-cv-00861 |
| JUDGE |
Honorable Anthony John Trenga |
| CLASS PERIOD |
April 30, 2024 through April 4, 2025 |
| SECURITY TYPE |
Securities |
Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired MicroStrategy Incorporated d/b/a Strategy (“MicroStrategy”) (NASDAQ: MSTR) securities between April 30, 2024 and April 4, 2025, inclusive (the “Class Period”).
MicroStrategy, together with its subsidiaries, provides enterprise analytics software and services purportedly powered by artificial intelligence. Since 2020, MicroStrategy has increasingly focused on purchasing and holding bitcoin, a type of crypto-currency, as a long-term business strategy. In October 2023, this strategy became so central to MicroStrategy's operations that it began referring to itself as a "Bitcoin Treasury Company" that primarily uses proceeds from equity and debt financings, as well as cash flows from its operations, to accumulate bitcoin, which serves as its primary treasury reserve asset.
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding MicroStrategy's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the anticipated profitability of MicroStrategy's bitcoin-focused investment strategy and treasury operations was overstated; (2) the various risks associated with bitcoin's volatility and the magnitude of losses MicroStrategy could recognize on the value of its digital assets following its adoption of ASU 2023-08 were understated; and (3) as a result, Defendants' public statements were materially false and misleading at all relevant times.
Current Status of Case:
On August 28, 2025, Lead Plaintiffs filed a Notice of Voluntary Dismissal. This action was voluntarily dismissed on August 29, 2025. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.