Rosen Law Firm has launched an investigation into Strategy (formerly MicroStrategy), inviting investors who purchased the company’s securities to participate in a potential class action lawsuit.
The law firm said it is examining whether Strategy and certain executives made materially misleading statements regarding the company’s business operations, Bitcoin treasury strategy, profitability, and the risks associated with its aggressive Bitcoin accumulation model.
The investigation covers several Strategy-linked securities, including MSTR, STRF, STRC, STRK, and STRD. Rosen has created a dedicated webpage allowing affected investors to join the probe.
The development follows a period of heightened scrutiny around Strategy’s capital structure and its growing reliance on multiple classes of securities to fund Bitcoin purchases.
While the investigation does not allege wrongdoing, it comes amid sharp volatility across several Strategy-related instruments.
One security attracting particular attention is STRC, Strategy’s perpetual preferred stock. Blockchain analytics platform Arkham recently addressed comparisons between STRC and the collapsed Terra ecosystem, arguing that the situations are fundamentally different.
“IS STRC THE NEXT LUNA? Short answer – not quite,” Arkham wrote in a post on X.
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The firm stressed that Strategy is under no legal obligation to maintain STRC’s market price, distinguishing it from algorithmic stabilization mechanisms that contributed to Terra’s collapse.
“Unlike Terra LUNA, Saylor cannot ‘get liquidated’ if STRC falls in value,” Arkham said, adding that “the price of STRC simply reflects the market’s view of how likely Saylor is to continue paying dividends.”
Arkham also highlighted a key risk facing preferred shareholders, noting that dividend payments remain discretionary.
“Crucially: Strategy does not legally have to pay these dividends,” the analytics firm wrote. “If Strategy gets in trouble, Saylor does not have to prioritise STRC shareholder dividends.”
According to Arkham, maintaining STRC’s current dividend structure could require roughly $1.2 billion annually, raising questions about the long-term sustainability of Strategy’s expanding financing model if market conditions deteriorate.
Strategy has not publicly responded to Rosen’s investigation.
The post Rosen Law Firm Launches Probe Into MicroStrategy appeared first on BeInCrypto.
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