Core Viewpoint - Richtech Robotics is facing a securities class action lawsuit following a significant drop in its stock price after a report indicated that Microsoft denied a commercial partnership with the company, leading to a decline of over 20% in share price on January 29, 2026 [1][6]. Group 1: Lawsuit Details - The lawsuit aims to represent investors who acquired Richtech securities between January 27, 2026, and January 29, 2026 [1][2]. - Hagens Berman, a national shareholder rights law firm, has initiated an investigation into the claims that Richtech violated federal securities laws [2][7]. Group 2: Company Announcements - On January 27, 2026, Richtech announced a collaboration with Microsoft, which was perceived as a significant commercial relationship, resulting in a 30% increase in share price on that day [4][6]. - The company subsequently announced a dilutive private placement of 8.5 million Class B common shares on January 28, 2026, which raised concerns about misleading investors regarding the nature of its relationship with Microsoft [5][6]. Group 3: Market Reaction - Following the January 29 report from Hunterbrook Media stating that Microsoft characterized the engagement as a standard customer program without commercial elements, Richtech's stock price fell over 20% [1][6]. - The report clarified that the collaboration was merely participation in a free prototyping program, not a commercial partnership, which led to a swift market reaction [6].
Richtech Robotics (RR) Hit With Securities Class Action Amid Questions About Possible Pump and Dump - Hagens Berman