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Microsoft Investors declare Surface RT “Unmitigated Disaster”
August 14, 2013, 2:29 pm
It seems Microsoft has more to worry about, besides Asus abandoning their Windows RT platform, as we reported yesterday.Surface RT performed so poorly that the company is getting sued in a class action lawsuit! Microsoft is being taken to court for allegedly misrepresenting the true financial effect Surface RT had on its business. Filed by Robbins, Geller, Rudman & Dowd, the shareholders claim Microsoft failed to reveal just how bad the Surface RT was doing, while violating SEC rules and regulations in the process.
arlier this year,
had to take a $900 million hit for inventory adjustments on its Surface RT, which was selling way below expectations. Microsofts foray into the tablet market was an unmitigated disaster, the suit reads.The suit goes on to call Microsofts Surface RT over-valued, even though the company did cut the price recently to $350.
The suit seeks to recover damages for those who purchased shares of Microsoft between April 18 and July 18. The Tech company is apparently working on a successor to last years Surface RT, and NVIDIAs CEO believes it will be much more successful this time around.
It remains to be seen whether the market even wants a Surface RT 2 in the first place. The iPad killer, seems dead itself.