Core Viewpoint - Richtech Robotics (RR) is facing a securities class action lawsuit following a significant drop in its stock price after Microsoft denied a commercial partnership, raising concerns about potential misleading statements made by the company [1] Company Overview - Richtech Robotics is involved in the development of AI-driven robotic systems and had previously announced a collaboration with Microsoft, which was later revealed to be a standard customer program without commercial elements [1][1] Legal Proceedings - The class action lawsuit seeks to represent investors who acquired Richtech securities between January 27, 2026, and January 29, 2026, after the company's misleading press release led to a 30% increase in share price, followed by a 20% decline when the truth emerged [1][1] - Hagens Berman, a national shareholder rights law firm, is investigating claims that Richtech violated federal securities laws and may have intentionally misled investors to facilitate a dilutive equity raise [1][1] Market Reaction - Following the announcement of the supposed partnership with Microsoft, Richtech's shares soared by 30% on January 27, 2026, but plummeted over 20% two days later when the partnership was denied [1][1] - The lawsuit highlights the potential for "AI washing," where companies may exaggerate their technological collaborations to inflate stock prices [1][1]
RR SHAREHOLDER NOTICE: Richtech Robotics (RR) Facing Securities Class Action Amid Questions About Possible Pump and Dump - Hagens Berman