Michael Seller has once again indicated that the strategy will buy more bitcoin, although the company is first known as micrustity and its high brass, its Bitcoin Holdings faced investors’ trial on the loss of its first quarter of $ 9.9 billion.
Seller published a chart showing the purchase of the past strategy’s Bitcoin (BTC) on the X on Sunday, with the title: “Nothing stops this orange.”
Its past secret X -Posts has been the forerunner of buying BitCoin strategy. The company has the largest bitcoin holding of all government companies in the 592,100 BTC, worth about $ 59.7 billion, of which Bitcoin trade is less than $ 101,000.
Top Executive of Strategy filed more than 9.9 billion bitcoin losses
Seller’s post came after an investor, strategy, and trial against top officials of the company on Thursday, claiming that he violated his duties before reporting the loss of multi -billion dollars in his first quarter results.
The shared holder’s derivative complaint filed by Abi Parmar was filed in a Federal Court of Virginia, solar, strategy CEO Fong Lee, Financial Chief Andrew Kong and four board directors made “meaningful and misleading statements” about changing accounting practice.
The complaint states that in January, the strategy enforced the rules of a financial accounting standard board that was implemented a month ago, allowing Crypto’s corporate holders to use their Crypto’s estimated market value in their balance sheets.
The case alleges that accounting changes have led to a strategy to record the unrealistic loss of $ 9.9 billion on their Bitcoin for their Q1 results in early April, which has reduced the company’s stock price nearly 9 %.
The shares in the Microstenti Inc. (MSTR) have increased by about 28 % this year, which has been less than just 8 238 in early April. Source: Google Finance
As a result of the results, the complaint claims that the implications of the strategy executive accounting change have “failed to fully disclose to a certain extent” and he did not disclose that “the dangers associated with Bitcoin’s fluctuations were far greater than representation.”
The case claimed that “the company’s profit was far more profitable than representation when the company’s bitcoin investment strategy and treasury options were applied.”
Million earns 31 million with the sale of “Flewed” stock allegedly implementing strategies
The complaint has also been accused of strategy executives of “involved in profitable internal sales” of the company’s stock, while it was “artificially frozen” before normalizing the effects of accounting changes.
Permar claimed that the trade saw that executives worked with about $ 31.5 million.
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The complaint has also been accused of executives of being abused, overall mismanagement and corporate assets under their control.
Class action alleges that the strategy misdressed BitCoin’s investment in a wrong way
The strategy was also targeted in the proposed Class Action case in mid -May, as well as the adoption of the FASB Crypto accounting roll, he allegedly participated in his Q1 losses.
The case filed by Anas Hamza is similarly alleged that the company has adopted a new accounting method, so the company has “failed to show the specific nature of the anticipated effects or its scope”.
In response to the proposed class proceedings, the strategy said in a regulatory filing that it would “defend strongly against these claims.”
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