Strategy faces class action lawsuit over alleged revenue overstatement

Strategy, the company that holds the largest amount of Bitcoin (BTC) of any publicly traded company in the world, is facing a class action lawsuit for allegedly violating securities laws.
On the 19th (local time), TheBlock reported that Strategy investors filed a class action lawsuit against Strategy founder Michael Saylor in the U.S. District Court for the Eastern District of Virginia.
The plaintiffs allege that Strategy "exaggerated its projected profits from its Bitcoin investments and realized losses." The plaintiffs also allege that Strategy and its management misrepresented the size of its losses from Bitcoin investments.
The lawsuit also claims Strategy CEO Phuong Le and CFO Andrew Kang are both named in the suit as targets of the company's failure to properly disclose information.
Strategy, led by founder Saylor, has been steadily purchasing Bitcoin since 2020. As of that day, Strategy had a total of 576,230,000 BTC (approximately $60.8 billion)
He holds Bitcoin.