Rosen Law Firm Launches Investigation into Strategy: What Lies Behind the Lawsuit?
The Rosen Law Firm has announced the initiation of an investigation into Strategy (formerly MicroStrategy) and invites investors who purchased the issuer's securities to join a potential class action lawsuit. Currently, attorneys are examining whether Strategy and its management published misleading statements regarding its operations, bitcoin accumulation strategy, business profitability, and related risks.
Investigation Details: Which Securities Are Under Scrutiny
The focus is on several securities linked to Strategy: MSTR, STRF, STRC, STRK, and STRD. A dedicated page has been created for affected investors to join the investigation. Of particular interest is STRC, the company's perpetual preferred stock, which has recently attracted market attention due to its volatility.
The investigation began amid growing interest in Strategy's capital structure and its increasing reliance on various types of securities to finance bitcoin purchases. While the firm has not yet filed formal charges, the mere fact of the review has sparked discussions among analysts and investors.
Comparisons with Terra and Arkham's Position
On-chain analytics platform Arkham recently commented on comparisons between STRC and the collapsed Terra ecosystem, emphasizing that these situations are fundamentally different. "Will STRC become the new LUNA? In short — not quite," experts noted. They pointed out that Strategy has no legal obligation to support STRC's market price, unlike the algorithmic stabilization mechanisms that played a key role in Terra's collapse.
"Unlike Terra LUNA, Saylor cannot lose funds due to a drop in STRC," Arkham added, highlighting that STRC's value merely reflects how much the market believes the company will continue dividend payments. The key point: Strategy is not legally required to pay these dividends — the decision remains at management's discretion.
According to Arkham's calculations, maintaining the current dividend payout order for STRC would require approximately $1.2 billion per year. Such a burden raises questions about the sustainability of the chosen financing model in a deteriorating market environment.
Analyst Opinion: Rosen's Notice Is Not a Verdict
Prominent analyst Shanaka Anslem cautioned against hasty conclusions of fraud. "There is no SEC lawsuit, no DOJ case. No filed complaint, no specific misrepresentations of facts," he emphasized, adding that Rosen's statement is the start of an investigation into potential claims, not a lawsuit with confirmed allegations.
Nevertheless, the market agrees that Strategy indeed faces questions regarding the sustainability of its financial model. Particularly critical remains the company's ability to withstand dividend payments and maintain its bitcoin strategy during periods of market weakness.
My analysis: The Rosen Law Firm investigation is more of a signal of growing pressure on Strategy than evidence of violations. However, the company's key vulnerability lies in its dependence on a continuous inflow of capital to sustain its bitcoin strategy and dividend obligations. If the market doubts Saylor's ability to generate sufficient cash flow, it could trigger further corrections in instruments linked to Strategy. Investors should closely monitor the company's financial reports and its ability to service debt.