MicroStrategy Inc. failed to alert shareholders that an anticipated change in accounting standards for the cryptocurrency it held would result in a multibillion-dollar unrealized loss, a proposed class action alleges.
The artificial intelligence software and services company, which does business as Strategy, ultimately disclosed that it had to recognize a roughly $5.9 billion unrealized loss on its bitcoin and other crypto assets for the first quarter of 2025, Anas Hamza says in the complaint, filed May 16 in the US District Court for the Eastern District of Virginia.
Strategy also said in the April 7 Securities and Exchange Commission filing ...
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