Lead plaintiffs and an investor have decided to voluntarily drop their lawsuit against the Bitcoin treasury firm Strategy, resulting in a permanent conclusion to the case, as stated in a court document acquired by Cointelegraph. This development may be viewed as a potential victory for cryptocurrency treasury firms, with Strategy being a dominant force in the industry.
According to a court document dated Thursday, two lead plaintiffs, Michelle Clarity and Mehmet Cihan Unlusoy, along with an investor representing other shareholders, filed a stipulation for dismissal.
“The dismissal regarding the Co-Lead Plaintiffs’ claims and Anas Hamza’s claims, while leaving class members’ claims intact, is with prejudice,” the court record notes. Additionally, “the Action has not received class action certification.”
The dismissal with prejudice indicates that “the plaintiff cannot refile or amend the complaint. The case is concluded and cannot be pursued further in this or any other court regarding the same claim,” explained Brandon Ferrick, general counsel for Duoro Labs, in an interview with Cointelegraph.
The lawsuit brought by Hamza against Strategy was initially filed in May 2025. Shortly thereafter, at least eight law firms sought to represent dissatisfied investors.
The allegations against Strategy were similar across the various lawsuits, claiming that the company and other defendants made misleading statements about the profitability and risks associated with their digital asset investments in Bitcoin (BTC).
Strategy began acquiring Bitcoin in August 2020 and currently holds 632,457 BTC valued at $68.4 billion as of now, according to BitcoinTreasuries.NET.
Related: Bitcoin treasury missteps: These firms stumbled in their BTC investments
Crypto treasury firms expand beyond Bitcoin
Since the initiation of BTC purchases, various crypto treasury firms have emerged across diverse sectors, amassing a range of different digital assets. Notable cryptocurrencies now found in corporate portfolios include Ether (ETH), Solana (SOL), BNB (BNB), and Tron (TRX).
Tyler Yagman, a crypto lawyer and associate at The Ferraro Law Firm, previously mentioned to Cointelegraph that transparency is essential for crypto treasury firms.
“We’re witnessing the rise of crypto-based treasury companies that function akin to actively managed ETFs, but structured as companies… the management team must be as transparent and direct as possible, as they are dealing with a market segment known for its volatility.”
As per Google Finance, the share price of Strategy has remained relatively stable on Friday, showing a slight decline of -0.8% in sync with the Nasdaq Index.
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