PANews reported on May 19 that Strategy (formerly MicroStrategy) disclosed in the Form 8-K document submitted to the SEC that on May 16, the company, its CEO Michael Saylor, CFO Phong Le and executive Andrew Kang were sued in the United States District Court for the Eastern District of Virginia. Plaintiff Anas Hamza, on behalf of a group of investors between April 30, 2024 and April 4, 2025, accused the company of violating relevant provisions of the Securities Exchange Act. The plaintiff claimed that the defendant made false or misleading statements about the company's Bitcoin investment strategy and expected profitability of financial operations, failed to disclose relevant information and Bitcoin volatility risks, and failed to disclose the scale of losses that may be recognized after adopting new accounting standards. The complaint seeks payment of unspecified damages, etc. MicroStrategy said it will actively defend itself, but it is currently unable to predict the results or provide loss estimates.