Richtech Robotics Inc. (RR) Securities Class Action

The lawsuit is focused on the propriety of Richtech’s statements concerning its AI-driven robot business.

More specifically, on January 27, 2026, Richtech issued a press release touting “a hands-on collaboration with Microsoft through the Microsoft AI Co-Innovation Labs to jointly develop and deploy agentic artificial intelligence capabilities in real-world robotic systems.” CEO Wayne Huang emphasized,  “[o]ur collaboration with Microsoft reflects a shared focus on applying advanced AI to practical, real-world use cases.”  

This news implying a meaningful commercial relationship between the two companies sent the price of Richtech shares soaring 30% higher on huge volume that day.

Then, on January 28, 2026, the company announced a dilutive at-the-market private placement with an institutional investor of 8.5 million Class B common shares.

The complaint alleges that Richtech misled investors into believing that it had a meaningful collaborative and commercial relationship with Microsoft when it did not.

Investors’ hopes related to Richtech’s January 27 announcement were dashed two days later. On January 29, 2026, Hunterbrook Media published “Breaking: Microsoft Denies Partnership With Richtech Robotics,” reporting that “Microsoft tells Hunterbrook Media the engagement was a ‘standard’ customer program with ‘no commercial element.’”  

According to Hunterbrook’s reporting, a Microsoft representative said “‘[t]here is no commercial element in this lab engagement.’” The report also highlighted that “the ‘collaboration’ Richtech announced appears to be participation in a free prototyping program available to Microsoft customers – not a commercial partnership.”

The market swiftly reacted to this news, sending the price of Richtech shares spiraling over 20% lower on huge volume that day.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the RR investigation about?

We are focused on whether Richtech may have intentionally misled investors in order to accomplish the dilutive equity raise and whether the developments are a new flavor of AI washing.

WHAT SHOULD I DO?

I worked at RR. What should I do?

If you were an employee of RR, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICIPATE?

Am I affected? What do I need to do to participate?

If you were an investor in RR, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any RR investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.