Strategy is facing multiple lawsuits, accusing it of securities fraud in the management of its Bitcoin treasury.

BlockBeats reported that on June 27, Strategy is facing at least five lawsuits, accusing the company of securities fraud in its Bitcoin treasury management. However, two law professors told Decrypt that such a number of lawsuits is not uncommon. They pointed out that law firms often vie for lead roles in consolidated class actions, which can increase their profits from the cases. In such cases, law firms often file separate lawsuits until a judge appoints a lead plaintiff and consolidates the various lawsuits. The accusations allege that Strategy misled investors regarding the expected profitability and risk assessment of its Bitcoin purchases by issuing "materially false and misleading" public statements. The lawsuits stem from Strategy's $7.7 billion purchase of Bitcoin in the first quarter, which resulted in an unrealized loss of $6 billion due to the price fall.