MicroStrategy and its founder, Michael Saylor, have agreed to a $40 million settlement to resolve a tax fraud lawsuit filed by Washington, D.C. The settlement is the largest income tax fraud recovery in the district's history. The lawsuit, initiated in August 2022, accused Saylor of evading income tax while living in the district for at least 10 years. This agreement marks a significant resolution in the case against the technology company and its executive chairman. Following the news, MicroStrategy's stock ($MSTR) saw an increase.
