MicroStrategy Hits a Big Speed Bump on the Information Superhighway
M. Reed - March 27, 2000

Event Summary

On March 20, MicroStrategy announced that they will restate their earnings for 1998, 1999, and the first quarter of 2000 based on a SEC bulletin issued in December 1999. Michael Saylor, CEO of MicroStrategy, saw the value of his shares decrease by $6 Billion dollars in a single day. Shares of the company decreased 62 percent on Monday 3/20, and had dropped from a high of $333 eleven days ago to $73 per share as of March 21. At least four law firms have announced class action lawsuits against the vendor...