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Published March 7, 2026
Richtech Robotics told investors it had finally made it. A cutting-edge AI robot. A collaboration with Microsoft. Real validation. The stock took off.
On January 27, Richtech announced what it called a joint engineering effort with Microsoft’s AI labs. Executives said they were working side by side to power next-generation robots. Shares surged more than 40% in a single day. But the next morning, Richtech announced a $38.7 million private placement.
Then, the truth hit. On January 29, Hunterbrook Media reported that Microsoftsaid Richtech was just a customer in a short, standard program. No commercial deal. No collaboration. The stock collapsed. About 30% wiped out in two trading days.
Now investors say they were misled, the hype was manufactured, and the damage was real. More shareholders are now joining the lawsuit.