Legal Storm Surrounding Strategy: Rosen Law Firm Launches Investigation, and the Market Speculates on the Fate of STRC
The Rosen Law Firm has officially announced the launch of an investigation into Strategy (formerly MicroStrategy) and invites investors who purchased the issuer's securities to join a potential class action lawsuit. This event instantly drew the attention of the entire crypto community, given Strategy's key role in corporate bitcoin accumulation.
Nature of the Claims and Market Reaction
Rosen attorneys are examining whether Strategy and its management published misleading statements about its operations, bitcoin storage strategy, business profitability, and associated risks. The investigation covers a range of securities: MSTR, STRF, STRC, STRK, and STRD. Particular attention is focused on STRC — a perpetual preferred stock whose volatility raises the greatest concerns.
Notably, Rosen Law Firm is not filing specific charges but is merely gathering information. However, the very fact of such an investigation amid a sharp decline in the value of instruments linked to Strategy creates a powerful negative backdrop.
Comparison with Terra and Arkham's Position
Amid the panic, some analysts draw parallels between STRC and the collapsed Terra (LUNA) ecosystem. However, the on-chain analytics platform Arkham has decisively refuted these analogies. Arkham experts emphasize that Strategy has no legal obligation to support the market price of STRC, unlike Terra's algorithmic stabilization mechanisms. "The value of STRC only shows how much the market believes in the continuation of dividend payments from Saylor," they note.
Nevertheless, Arkham points to a significant risk for preferred stock holders: dividend payments remain at the company's discretion. According to their estimates, maintaining the current payout order for STRC requires approximately $1.2 billion per year. This calls into question the sustainability of Strategy's financial model in the event of deteriorating market conditions.
Analyst's View: Panic or Justified Concern?
Renowned analyst Shanaka Anslem urges against dramatizing the situation. He rightly notes that Rosen Law Firm's notifications are a standard practice of client acquisition after a sharp stock decline, not evidence of fraud. "There is no SEC lawsuit, no DOJ case. No lawsuit has been filed, no specific misrepresentations of facts," he emphasizes.
Nevertheless, in the long term, questions about Strategy's financial model remain. The company's ability to sustain dividend payments and maintain its bitcoin strategy during periods of market weakness is the key factor that will determine the future of both Strategy and its investors.
Expert opinion: Unlike Terra, where the collapse was caused by internal algorithmic contradictions, Strategy's risks are linked to exogenous factors — bitcoin volatility and market conditions. For now, this is not a "time bomb" but rather a "stress test." However, investors should closely monitor the company's ability to generate sufficient cash flow to service its obligations.