Globenewswire·2026-03-02 17:23Core 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 [1][6]. Group 1: Lawsuit Details - The lawsuit aims to represent investors who acquired Richtech securities between January 27, 2026, and January 29, 2026, after the stock price fell over 20% due to the news from Hunterbrook Media [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 led to a 30% increase in its stock price on that day [4]. - The following day, Richtech disclosed a dilutive private placement of 8.5 million Class B common shares, raising concerns about the company's transparency regarding its relationship with Microsoft [5]. Group 3: Market Reaction - The market reacted negatively on January 29, 2026, when Hunterbrook Media reported that Microsoft characterized the engagement with Richtech as a standard customer program without any commercial element, resulting in a stock price decline of over 20% [6][7]. - The report indicated that the collaboration was merely participation in a free prototyping program, not a commercial partnership, which contradicted Richtech's earlier statements [6].