Investors in the prominent Bitcoin treasury company Strategy Inc. have withdrawn a proposed class action lawsuit that accused the company and its executives of misleading shareholders about the risks tied to its Bitcoin-focused investment approach and a recent accounting rule change.
The lawsuit, covering a class period from April 30, 2024, to April 4, 2025, had sought unspecified damages, legal fees, and other relief. However, the plaintiffs’ decision to step back brings the case to a close without a trial or settlement. In earlier filings, Strategy stated it intended to “vigorously defend” itself against the allegations and maintained that its disclosures about Bitcoin-related risks and accounting practices were accurate and complete.
At the time of writing, Strategy’s Bitcoin holdings stand at 632,457 and are valued at around $68.5 billion. Meanwhile, MSTR trades at $334.41, a price loss of 4.43% and 10.23%, in the last one and five days, respectively.
