MicroStrategy Inc. is facing a class action lawsuit filed on July 21, 2025, in the Court of Chancery of the State of Delaware. The lawsuit, initiated by plaintiff David Dodge, alleges that the company and its board of directors violated the Delaware General Corporation Law (DGCL). The claims focus on an alleged breach of fiduciary duty by the board in relation to a Certificate of Amendment for the 8.00% Series A Perpetual Strike Preferred Stock. The amendment reportedly modified terms of the stock so that its liquidation preference per share approximates its trading price, with a minimum value set at $100. The complaint seeks a court order declaring the violation of Section 242 of the DGCL, invalidating the amendment, and awarding damages, including interest and legal costs. The outcome of the lawsuit remains uncertain at this time.
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