| Company: | Microsoft Corporation |
| Ticker Symbol: | MSFT |
| Class Period: | Apr-18-13 to Jul-18-13 |
| Date Filed: | Aug-13-13 |
| Lead Plaintiff Deadline: | Oct-12-13 |
| Court: | District of Massachusetts |
| Allegations: | |
The complaint charges Microsoft and certain of its officers with violations of federal securities laws. The complaint alleges that, throughout the Class Period, defendants issued materially false and misleading statements regarding the Company's financial performance and its tablet computer, the Surface RT; specifically: (a) that the Company's Surface RT product was experiencing poor customer demand and lackluster sales; (b) that the Company's Surface RT inventory experienced a material decline in value during the quarter ended March 31, 2013; (c) that the Company's financial statements for the quarter ended March 31, 2013 were materially false and misleading and violated Generally Accepted Accounting Principles and Microsoft's publicly disclosed policy of accounting for inventories; (d) that the Company's Form 10-Q for its third quarter of 2013 failed to disclose then presently known trends, events or uncertainties associated with the Surface RT product that were reasonably likely to have a material effect on Microsoft's future operating results; and (e) that based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company's Surface RT product during the Class Period.
On July 18, 2013, shares of Microsoft fell $4.04 or 11.4% to close at $31.40 per share after the company announced its financial results for the fiscal 2013 fourth quarter and year end, the periods ended June 30, 2013. Plaintiff seeks to recover damages on behalf of all Microsoft shareholders who purchased common stock during the Class Period described above.
No Class has yet been certified in the above action.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
