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Investors suing Microsoft over "false and misleading" Surface RT info

Posted: , by Michael H.

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Investors suing Microsoft over
At this point, it's no secret that the Surface RT tablet has been a mess for Microsoft. Sales have been bad, and Microsoft ended up having to take a $900 million write-off on its earnings because of Surface RT inventory that never sold. The thing is that Microsoft didn't make the situation seem so bad, and that has caused some problems with investors.

New York law firm Robbins Geller Rudman & Dowd LLP has filed a class action lawsuit against Microsoft claiming that the company made "false and misleading" statements about the Surface RT between April 18, 2013 and July 18, 2013. The lawsuit says that Microsoft knew that RT sales were bad, and that its financial performance would be taking a hit, but purposefully mislead investors. 

We can't say how the lawsuit will turn out, but the fact that the lawsuit exists isn't really much of a surprise. The general consensus was that the Surface RT was a bomb, and whether or not Microsoft did mislead investors, a product with high costs and low demand is bound to anger investors especially considering the hit that Microsoft stock took as a result of the earnings report.  

source: PCWorld

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11 Comments
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posted on 13 Aug 2013, 15:35 6

1. omar300 (Posts: 183; Member since: 24 Jun 2012)


this is same story as blackberry investor suing blackberry for misleading bb10 plans, that case was thrown out of court.
seeing how strong microsoft is with judges, this sue case is a joke.

posted on 13 Aug 2013, 23:25

7. rusticguy (Posts: 2828; Member since: 11 Aug 2012)


Who knows funded by M$ itself to get some attention ...

posted on 14 Aug 2013, 00:33 1

9. tigermcm (Posts: 729; Member since: 02 Sep 2009)


aaaaaaand MS would need attention why again? its not like MS fell off the map and are trying to be seen, we see MS quite clear

posted on 14 Aug 2013, 03:14

11. EXkurogane (Posts: 863; Member since: 07 Mar 2013)


They should first sue themselves for being idiots not being able to notice the difference

posted on 13 Aug 2013, 16:04

2. gazmatic (Posts: 625; Member since: 06 Sep 2012)


MS cannot catch a break

first metro, then skydrive, now this

posted on 13 Aug 2013, 18:04 1

3. chemhaz (Posts: 160; Member since: 04 May 2012)


Have a fire sale and let them go out cheap. One they are out in volumes and peolple realize they are great everyone will want one then release a new model with an adjusted price. I dont know anyone who owns one but at the right price I'll give one a go, however at similar price to an established OS I wont take the plunge.

posted on 13 Aug 2013, 18:23

4. jove39 (Posts: 1305; Member since: 18 Oct 2011)


MS planning fire sale for SurfaceRT...just about time...most probably it'll happen around thanks giving :)

posted on 13 Aug 2013, 20:03

5. AfterShock (Posts: 2812; Member since: 02 Nov 2012)


Behave blase with others money and bad things happen.

Crashed and burned, then tried to hide the wreckage.

posted on 13 Aug 2013, 23:12

6. CX3NT3_713 (Posts: 1949; Member since: 18 Apr 2011)


Fire sale :-] ....make $omething... instead of nothing

posted on 13 Aug 2013, 23:59

8. taikucing (unregistered)


add the ability to run x86 apps, people will buy it.

posted on 14 Aug 2013, 01:59

10. Airforce (Posts: 63; Member since: 24 Jul 2012)


Imagine

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