Rosen Law Firm launches investigation into Strategy (MicroStrategy): what this means for investors
The Rosen Law Firm has initiated an official investigation into Strategy (formerly MicroStrategy) and invites investors who purchased the issuer's securities to join a potential class action lawsuit. This event has drawn close market attention, given Strategy's key role in corporate bitcoin accumulation.
The investigation covers a wide range of Strategy securities, including MSTR shares, as well as specialized instruments STRF, STRC, STRK, and STRD. Rosen Law Firm has created a dedicated page for affected investors where they can declare their participation. The firm intends to verify whether the company's management and top executives misled investors regarding the business model, bitcoin purchase strategy, profitability, and associated risks.
Investigation Details and Market Context
Rosen's initiative emerged amid heightened scrutiny of Strategy's capital and the company's growing reliance on various types of securities to finance bitcoin purchases. Although the investigation does not directly allege a violation of law, it was launched during a period of sharp fluctuations in the value of instruments linked to Strategy.
Of particular interest is the STRC security — Strategy's perpetual preferred stock. On-chain analytics platform Arkham recently commented on comparisons between STRC and the collapse of the Terra ecosystem, highlighting fundamental differences. Arkham analysts noted that, unlike Terra LUNA, Saylor cannot be liquidated if STRC depreciates. The price of STRC merely reflects how much the market expects Strategy to continue paying dividends.
Experts emphasize that Strategy has no legal obligation to maintain the price of STRC in the market, and this instrument differs from the stabilization algorithms that led to Terra's collapse. It is important to understand that dividend payments remain at the company's discretion, and if financial problems arise, Saylor is not required to prioritize payments to STRC holders.
Arkham analysts calculated that maintaining the current STRC dividend structure could require approximately $1.2 billion per year. This raises serious questions about the sustainability of Strategy's financing model in the long term, especially if market conditions deteriorate.
Strategy has not yet commented on the Rosen investigation.
Cryptalist Commentary: The launch of the Rosen investigation is a signal of growing regulatory and legal pressure on the Saylor Model. Although the STRC structure is fundamentally different from Terra, the $1.2 billion annual dividend obligation creates a real financial risk. Investors should closely monitor developments, as this could impact the valuation of all Strategy instruments.