Strategy investors drop class action lawsuit alleging false and misleading statements

According to Odaily Planet Daily, investors in Strategy have decided to terminate their class-action lawsuit, which claimed that the Bitcoin fund management company made false and misleading statements about its investment strategy. The lawsuit specifically accuses Strategy of exaggerating the profitability of its Bitcoin investment strategy and financial operations while downplaying the volatility risks associated with Bitcoin. Investors also claim that Strategy failed to adequately disclose the impact of adopting new accounting standards. Co-founder Michael Saylor, CEO Phong Le, and CFO Andrew Kang are all named as defendants. (The Block)