Legal Storm Over Strategy: Rosen Law Firm Launches Securities Investigation into the Company
A new corporate scandal is brewing in the cryptocurrency market. The well-known law firm Rosen Law Firm has announced the start of an investigation into the company Strategy (formerly MicroStrategy) and has invited investors who purchased the issuer's securities to join a potential class-action lawsuit. This event has captured the attention of the entire crypto community, given Strategy's key role in the institutional accumulation of bitcoin.
What's in the Crosshairs: The Essence of the Claims Against Strategy
Lawyers are checking whether the company's management published misleading statements about its activities, bitcoin storage strategy, business profitability, and related risks. Several types of securities have come under the scope of the investigation: MSTR, STRF, STRC, STRK, and STRD. A separate page has already been created for affected investors to join the proceedings.
Special attention is focused on the STRC instrument — Strategy's perpetual preferred stock. It is around this that the most heated debates have flared up, including comparisons with the infamous Terra ecosystem.
Arkham vs. Analogies with LUNA: Structural Differences
The analytics platform Arkham was quick to refute the direct parallels between STRC and the LUNA token, which are actively being discussed on social media. Arkham experts emphasize that Strategy has no legal obligation to support the market price of STRC — unlike the algorithmic stabilization mechanisms that led to Terra's collapse.
"WILL STRC BECOME THE NEW LUNA? In short – not exactly," Arkham notes, adding: "The value of STRC only shows how much the market believes in the continuation of dividend payments from Saylor."
Key point: dividend payments on STRC remain at the company's discretion. If Strategy faces problems, Michael Saylor is not obligated to prioritize dividends for STRC shareholders. According to Arkham's calculations, maintaining the current payment order for STRC requires approximately $1.2 billion per year. This calls into question the sustainability of the financing model if market conditions worsen.
Analyst Opinion: Investigation ≠ Proof of Guilt
Well-known analyst Shanaka Anslem made an important observation: the Rosen Law Firm notice is a typical way for law firms to find clients after a sharp drop in stock prices, not a sign of already proven violations.
"There is no SEC lawsuit, no DOJ case. No lawsuit has been filed, no specific misrepresentations. This is the start of an investigation into potential claims, not a lawsuit with confirmed allegations," he emphasized.
Nevertheless, caution remains in the market. The main question is whether Strategy can sustain dividend payments and maintain its bitcoin strategy during periods of market weakness. The company and Michael Saylor are refraining from comments for now.
Cryptalist Expert Opinion: The Rosen Law Firm initiative is not a verdict, but a serious signal to the market. The sustainability of Strategy's financial model, based on the constant issuance of new instruments to buy bitcoin, will now be tested not only by the market but also by regulators. Investors should closely monitor developments, especially regarding STRC preferred shares — their fate could become a litmus test for Saylor's entire strategy.