Legal Storm Over Strategy: Rosen Law Firm Launches Investigation into Saylor's Empire
The digital asset market is once again shaken by a wave of legal uncertainty. The well-known law firm Rosen Law Firm has officially announced the launch of an investigation into the company Strategy (formerly MicroStrategy) and invites investors who purchased the issuer's securities to join a potential class action lawsuit.
Lawyers are checking whether Strategy and its key executives misled investors regarding the company's operational activities, its bitcoin accumulation strategy, actual business profitability, and the risks associated with the aggressive model of purchasing the leading cryptocurrency. The investigation covers a range of securities: MSTR, STRF, STRC, STRK, and STRD. A dedicated page has already been created for affected holders to join the proceedings.
Nature of the Claims and Market Reaction
The investigation began amid close scrutiny of Strategy's capital structure and its growing reliance on various types of securities to finance bitcoin purchases. Of particular interest is the STRC instrument—a perpetual preferred stock of Strategy that recently caught analysts' attention.
While Rosen Law Firm is just starting its work, the Arkham platform has already moved to calm the market, stating that comparisons of STRC with the collapsed Terra (LUNA) ecosystem are unfounded. Arkham analysts emphasize a fundamental difference: Strategy has no legal obligation to support the market price of STRC, unlike the algorithmic stabilization mechanisms of Terra.
"Unlike Terra LUNA, Saylor cannot lose funds due to a drop in STRC. The value of STRC only shows how much the market believes in the continuation of dividend payments from Saylor," Arkham notes.
The key risk highlighted by experts is the voluntary nature of dividend payments. The company is not legally obligated to pay dividends to holders of preferred shares. According to Arkham's calculations, maintaining the current payout order for STRC requires Strategy to have about $1.2 billion per year, which calls into question the sustainability of the chosen financing model under worsening market conditions.
Analyst's View: Premature Panic?
Prominent analyst Shanaka Anslem spoke out against hasty conclusions, emphasizing that the Rosen Law Firm notice is a standard practice of client acquisition after a sharp drop in stock prices, not evidence of fraud. "There is no SEC lawsuit, no DOJ case. No lawsuit has been filed, no specific misrepresentations of facts," he stated, adding that this is merely the beginning of an investigation into potential claims, not a lawsuit with confirmed allegations.
My comment as an analyst: This incident is a classic example of market turbulence surrounding high-risk instruments. It is too early to speak of proven violations, but the very fact of the investigation undermines confidence in Strategy's financial model. Investors should closely monitor developments: if pressure on the company intensifies, it could lead to a revision of the bitcoin accumulation strategy, directly impacting the price of MSTR shares and derivative instruments. The market is reassessing risks, and volatility will remain high in the short term.