Rosen Law Firm launches investigation against Strategy: what lies behind the claims against Michael Saylor's bitcoin strategy
The Rosen Law Firm has announced the initiation of an investigation into Strategy (formerly MicroStrategy) and has invited investors who purchased the company's securities to join a potential class action lawsuit. This development has drawn close market attention, given Strategy's key role in corporate bitcoin accumulation.
Investigation Details: What Lawyers Are Reviewing
Attorneys are examining whether Strategy and its management published misleading statements regarding the company's operations, bitcoin storage strategy, business profitability, and risks associated with its aggressive model of accumulating the leading cryptocurrency. The investigation covers a range of securities: MSTR, STRF, STRC, STRK, and STRD. A dedicated page has been created for affected investors to join the process.
Particular attention is focused on the STRC instrument — Strategy's perpetual preferred stock. The main discussion revolves around this instrument, and its decline below par value has sparked a wave of market concern.
Why Arkham Believes STRC Is Not a New LUNA
On-chain analytics platform Arkham has issued a significant statement, refuting fears that the STRC situation could repeat the collapse of the Terra ecosystem. Arkham experts emphasize that Strategy has no legal obligation to support the market price of STRC, unlike the algorithmic stabilization mechanisms that led to LUNA's downfall.
"Unlike Terra LUNA, Saylor cannot lose funds due to STRC's decline," analysts note. "STRC's value merely reflects how much the market believes in the continuation of dividend payments from Saylor." The key point: dividend payments on preferred shares remain at the company's discretion, and in the event of financial difficulties, priorities may shift.
According to Arkham's calculations, Strategy requires approximately $1.2 billion annually to maintain the current payout order for STRC. This raises questions about the sustainability of the chosen financing model should market conditions deteriorate.
Analyst Opinion: Rosen Notice Is Not Proof of Violations
Prominent analyst Shanaka Anslem cautioned against hasty conclusions, noting that such notices are a standard practice for law firms seeking clients after a sharp stock decline, rather than evidence of proven violations. "There is no SEC lawsuit, no DOJ case. No complaint has been filed, no specific misrepresentations have been identified," he emphasized.
Nevertheless, the market rightly questions the long-term sustainability of Strategy's financial model, especially during periods of market weakness. The company's ability to simultaneously maintain dividend payments and continue its aggressive bitcoin strategy remains a critical point of tension.
Expert Comment: The Rosen Law Firm's initiative is more a signal of growing nervousness around Strategy's complex capital structure than direct evidence of fraud. However, the very fact of such an investigation, amid STRC's decline below par and massive annual dividend obligations, forces investors to reassess risks. Saylor's strategy works brilliantly in a bull market, but its stress test under conditions of a deep bitcoin correction has yet to be passed.