Shares of Richtech Robotics fell over 20% on January 29, 2026, following the release of a Hunterbrook report alleging that the company mischaracterized a non-commercial participation in Microsoft’s AI Co-Innovation Labs as a “close collaboration.” According to the report, Microsoft stated that the engagement was a standard customer program with no commercial element, despite Richtech’s public statements implying a meaningful partnership. The report further noted that the announcement preceded a dilutive private placement and followed Richtech’s failure to file its Form 10-K in a timely manner, raising questions about the accuracy of the company’s prior disclosures.
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