MSTR - MicroStrategy And Michael Saylor Settle $40 Million Tax Fraud Lawsuit | Benzinga
MicroStrategy Inc. (NASDAQ:MSTR) and its executive chairman Michael Saylor have agreed to a $40 million settlement to resolve a tax fraud lawsuit brought by the Washington D.C. attorney general.
What Happened: The lawsuit, filed in August 2022, accused Saylor of failing to pay over $25 million in income taxes, alleging he had avoided these taxes while living in Washington for more than a decade, Bloomberg reported on Monday.
Saylor denied the accusations, claiming his residence was in Florida.
In an official statement, D.C. Attorney General Brian L. Schwalb emphasized the significance of the settlement: “This precedent-setting ...