The Portnoy Law Firm has initiated a class action lawsuit targeting Richtech Robotics, Inc. on behalf of investors who purchased the company's securities during a two-day window on January 27-29, 2026. The legal action centers on allegations that Richtech made materially false statements regarding a purported commercial partnership with Microsoft, a claim the technology giant publicly refuted on January 29, 2026.
According to the lawsuit, Richtech's relationship with Microsoft was limited to participation in a standard AI Co-Innovation Lab program, which the firm characterizes as having no commercial component. This distinction between claimed partnership status and actual engagement terms forms the basis of the securities fraud allegations. The misrepresentation, plaintiffs contend, artificially inflated the company's stock valuation during the investment period in question.
The market response to Microsoft's clarification was swift and substantial. Richtech's stock price declined more than 29 percent over two consecutive trading sessions following the partnership denial, resulting in significant investor losses. The class action seeks to recover damages for shareholders who purchased securities during the period when the allegedly false statements were in effect.