In my own view, they have no case. Michael Saylor, just like other business owners, discusses investment based on their understanding. Nobody was forced to take that financial advice. They are supposed to do their research before investing. I think this case is simply a smear campaign against this Bitcoin proponent due to his success in the industry.

These anti-Bitcoin forces lost the campaign associating Bitcoin with criminal transactions. They have also failed to convince the world that Bitcoin destroys the environment.  Maybe the next phase is to attack genuine corporate investors. They will still fail.