Editor's PiCK
Michael Saylor Faces Class Action Lawsuit for Alleged Securities Law Violations
JH Kim
Summary
- Michael Saylor, founder of Strategy, is reported to be facing a class action lawsuit for alleged securities law violations.
- The plaintiffs claim that Strategy made false statements about the company's revenue prospects and Bitcoin-centric investment strategy.
- It was revealed that the defendants include not only Saylor but also Strategy's CEO and CFO.
According to The Block, a cryptocurrency-focused media outlet, on the 19th (local time), Michael Saylor, the founder of Strategy, is facing a class action lawsuit for alleged violations of securities laws.
The media reported, "The plaintiffs claim that Strategy made false and misleading statements about the company's revenue prospects," adding, "They also allege that Strategy exaggerated the expected returns of its Bitcoin-centric investment strategy."
Furthermore, it was added, "The plaintiffs claim that they suffered investment losses as a result."
Meanwhile, the defendants include not only Saylor but also Strategy's CEO Phong Le and CFO Andrew Kang.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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