The US law firm Pomerantz has filed a class action lawsuit against MicroStrategy and some of its executives.

By: theblockbeats.news|2025/07/03 11:07:53

BlockBeats News, July 3rd, According to the American news agency, the law firm Pomerantz in the United States has announced that it has filed a class action lawsuit against MicroStrategy (MSTR) and some of its executives. The lawsuit alleges that MicroStrategy misled investors between April 30, 2024, and April 4, 2025, by not fully disclosing the risks of its "Bitcoin Reserve Company" strategy. MicroStrategy underestimated the potential massive losses from Bitcoin price volatility after adopting the new accounting standard ASU 2023-08.

On April 7, 2025, MicroStrategy disclosed unrealized losses of approximately $5.9 billion in the first quarter due to the devaluation of Bitcoin, causing the company's stock price to drop by 8.67% on the same day, closing at $268.14 per share. This class action lawsuit has been filed in the Eastern District of Virginia, with case number 25-cv-00861, seeking to recover losses caused by the defendants' violation of federal securities laws and seeking remedies against the company and certain executives under Section 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 issued thereunder.

DDC Enterprise Limited has today announced the additional purchase of 50 bitcoins, increasing its total bitcoin holdings to 2,118 bitcoins. This latest acquisition marks DDC's seventh consecutive week of executing its bitcoin accumulation plan. Based on its current holdings, DDC is ranked 34th in the global publicly traded companies bitcoin holdings list.

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