Terry Tran Sues to Block Semler & Strive’s Bitcoin Merger

Investor Terry Tran Sues to Block Semler and Strive’s Bitcoin Merger

Written by Aaron S.,

Editor-In-Chief

Last Updated: October 16, 2025

Key Takeaways

A Semler Scientific investor has filed a lawsuit to stop its planned merger with Strive, citing a lack of transparency about the deal;
The lawsuit claims Semler’s board failed to provide enough financial details to allow shareholders to vote with a full understanding;
The case argues Semler’s disclosures may violate federal securities laws and asks the court to pause the merger until clearer info is shared.

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A planned merger between Semler Scientific and Strive, an asset management company now focused on Bitcoin BTC $108,329.93 strategy, is being challenged in court.

The proposed deal, backed by Strive’s founder Vivek Ramaswamy, has prompted legal action from an investor who claims the company did not provide enough transparency.

The lawsuit was filed in the US District Court for the Northern District of Illinois by shareholder Terry Tran. Tran has accused Semler’s leadership of not sharing complete financial information with investors ahead of the vote on the merger.

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At the center of the case are allegations that the materials sent to shareholders may have violated federal rules. Specifically, the suit cites Sections 14(a) and 20(a) of the Securities Exchange Act of 1934, which relate to false or incomplete information shared in official documents and the accountability of corporate executives.

Tran argues that Semler’s board, including CEO Douglas Murphy-Chutorian and directors Eric Semler, William Chang, and Daniel Messina, failed to clearly present the financial risks and benefits of the deal.

According to the court filing, the lack of detail may mislead investors and affect their ability to make an informed decision.

The investor is asking the court to delay the merger process until the company releases clearer, more detailed disclosures.

Meanwhile, Australia's Minister for Cybersecurity and Home Affairs, Tony Burke, is considering changes that could empower the country’s financial intelligence agency to restrict or ban the use of crypto ATMs. What does the proposed law state? Read the full story.