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Complete deposit and trading tasks to receive random LOT airdrops. Exclusive Alpha trading task await!
Strategy has faced multiple class action lawsuits due to Bitcoin Holdings.
PANews reported on June 27 that Bitcoin giant Strategy is facing at least five class action lawsuits initiated by law firms over its public statements related to Bitcoin investments, which are suspected of securities fraud. Several legal experts have stated that it is not uncommon for multiple law firms to compete for the lead plaintiff position in such cases, as the leading firm can earn substantial attorney fees. The lawsuits stem from Strategy's purchase of $7.7 billion in Bitcoin in the first quarter of 2024, which resulted in nearly $6 billion in unrealized losses due to the fall in coin prices. Currently, Strategy has responded in SEC filings that it will actively address the related allegations, but it cannot predict the outcome of the cases.