Globenewswire·2026-02-16 18:11Core Viewpoint - Richtech Robotics is facing a securities class action lawsuit following a significant drop in its stock price after a report revealed that Microsoft denied a commercial partnership with the company, leading to a decline of over 20% in share value on January 29, 2026 [1][6]. Group 1: Lawsuit and Investigation - The lawsuit aims to represent investors who acquired Richtech securities between January 27, 2026, and January 29, 2026 [2]. - Hagens Berman, a national shareholder rights law firm, has initiated an investigation into the claims that Richtech violated federal securities laws [2][7]. - The lead plaintiff deadline for the lawsuit is set for April 3, 2026 [2]. Group 2: Company Statements and Market Reaction - On January 27, 2026, Richtech announced a collaboration with Microsoft, which initially caused its stock price to surge by 30% due to perceived commercial potential [4]. - However, on January 29, 2026, Hunterbrook Media reported that Microsoft characterized the engagement as a standard customer program without any commercial element, leading to a rapid decline in Richtech's stock price by over 20% [6]. Group 3: Allegations of Misleading Information - The lawsuit alleges that Richtech misled investors regarding the nature of its relationship with Microsoft, suggesting a meaningful collaboration that did not exist [5][6]. - Hagens Berman's investigation is focused on whether Richtech intentionally misled investors to facilitate a dilutive equity raise [7].