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Strategy shareholders withdraw board lawsuit regarding the impact of Crypto Assets accounting standards.
On September 11, according to Bloomberg, shareholders of Strategy Inc. agreed to end a lawsuit that accused the company's management of allowing its business, which referred to itself as the "Bitcoin treasury," to downplay the anticipated impact of changes in Crypto Assets accounting standards. The shareholders voluntarily waived the derivative lawsuit against current and former board members and executives but retained the right to re-file the lawsuit. Judge Anthony J. Trenga of the U.S. District Court for the Eastern District of Virginia has signed the joint agreement reached between the shareholders and some of the former leadership of MicroStrategy Inc., and officially dismissed the case on Wednesday.