Michael Sailor once again hinted that the strategy will buy more bitcoin, although the company previously known as Microstrategy has become the best copper has been subjected to a lawsuit for the investor for its loss in the first quarter of $ 5.9 billion on bitcoin possesses.
Silor posted a scheme that displays Bitcoin (BTC) purchases in the strategy to X on Sunday with an illustration: “Nothing stops this orange.”
His encrypted posts in the encrypted past were the sects of the Bitcoin purchase strategy. The company has the largest Bitcoin holdings for all public companies at 592100 BTC, at a value of about $ 59.7 billion, with Bitcoin trading just less than $ 101,000.
The best implementation operations in the strategy established more than $ 5.9 billion
The Silor Publication came after he did it, and the company’s senior executives by an investor on Thursday, who claimed that they violated their credit duties before reporting the loss of Bitcoin millions of dollars in its results in the first quarter.
The complaint derived from the shareholders by Abhey Parmar, who was submitted to the Federal Court of Virginia, claimed Silor, the CEO of the Phong Le Strategy, Finance Chairman Andrew Kang and four directors of the Board of Directors “made wrong and financially misleading statements” about changing accounting practice.
Al -Shukawi said that in January, the strategy was enacted the base of the Financial Accounting Standards Board that entered into force a month ago, allowing Crypto companies to use the market value estimated to encrypt in their public budgets.
The lawsuit claimed that the accounting change caused a $ 5.9 billion loss strategy to Bitcoin for the Q1 results that were shared in early April, causing the company’s share price to decrease by approximately 9 %.
The stocks rose in Microstrate Inc. (MSTR) to approximately 28 % this year, after it retracted the lowest level of less than $ 238 in early April. source: Google Financing
In the previous period, the complaint claimed the executives “failed to accurately detect the full range” of the potential impact of changing accounting and that they did not reveal that “the risks associated with bitcoin volatility were greater than their representation.”
“The company’s profitability when applying the investment strategy that depends on bitcoin and the treasury options was much less profitable than the actors,” the lawsuit claimed.
Strategic executives are allegedly $ 31 million with “inflated” sales
The complaint also accused the executives of the strategy of “engaging in profitable internal sales” for the company’s share, while “artificially amplified” before the accounting changes were published.
Parmar claimed that the tasks witnessed that the executives were starting about $ 31.5 million.
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The complaint also accused the executives of offending the use of their control, mismanagement, and wasting the assets of companies.
The collective lawsuit claims the strategy that has been distorted to invest in Bitcoin
The strategy was also struck by a proposed lawsuit in mid -May, and likewise due to the adoption of the Crypto FASB account that it was claimed to contribute to its losses in the first quarter.
This lawsuit, which Anas Hamza was filed, likewise, claimed that the company “failed to detect nature or the special scope of the expected influence while reducing the associated risks” when it adopted the new method of accounting.
The strategy said in an organizational file in response to the proposed collective action that he will “will” defend strongly against these allegations.
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Source: https://cointelgraph.com/news/saylor-next-bitcoin-buy-investor-SUES-Over-strate GY-6B-Loss?