Investors in the prominent Bitcoin treasury company Strategy Inc. have withdrawn a proposed class action lawsuit that accused the company and its executives of misleading shareholders about the risks tied to its Bitcoin-focused investment approach and a recent accounting rule change.

The Case Against Strategy

Bitcoinist has reported that plaintiffs led by Anas Hamza filed a class action suit in the US District Court for the Eastern District of Virginia, against Strategy Inc., co-founder Michael J. Saylor, Chief Executive Officer Phong Le, and Chief Financial Officer Andrew Kang as defendants.

The case filed by Pomerantz LLP claimed violations of federal securities laws, specifically Section 10(b) with Rule 10b-5 thereunder, and Section 20(a) of the Securities Exchange Act of 1934. I

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