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Press release content from Business Wire. The AP news staff was not involved in its creation.
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Press release content from Business Wire. The AP news staff was not involved in its creation.

The Law Offices of Frank R. Cruz Announces Investigation of MicroStrategy Incorporated (MSTR) on Behalf of Investors

June 22, 2021 GMT

LOS ANGELES--(BUSINESS WIRE)--Jun 22, 2021--

The Law Offices of Frank R. Cruz is investigating potential claims against the board of directors of MicroStrategy Incorporated (“MicroStrategy” or the “Company”) (NASDAQ: MSTR ) concerning whether the board breached its fiduciary duties to shareholders.

If you are a shareholder, click here to participate.

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On June 21, 2021, MicroStrategy announced that it purchased an additional 13,005 bitcoins for approximately $489 million in cash, bringing its total holdings to over 100,000. As the price of bitcoin continued to decline, Bloomberg reported that MicroStrategy may have to mark down the value of its bitcoins by incurring a nearly $77 million charge.

Our investigation concerns whether the Company’s board of directors breached its fiduciary duties to shareholders and/or grossly mismanaged the Company in connection with the above alleged misconduct.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

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If you still hold MicroStrategy shares purchased before March, 2021 and wish to discuss this matter with us, or have any questions concerning your rights and interests with regards to this matter, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210622006096/en/

CONTACT: The Law Offices of Frank R. Cruz, Los Angeles

Frank R. Cruz, 310-914-5007

fcruz@frankcruzlaw.com

www.frankcruzlaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: The Law Offices of Frank R. Cruz

Copyright Business Wire 2021.

PUB: 06/22/2021 05:48 PM/DISC: 06/22/2021 05:48 PM

http://www.businesswire.com/news/home/20210622006096/en