Microsoft's Failed Tablet Caused $34B Loss, Investor Says

Law360, Los Angeles (August 12, 2013, 6:25 PM EDT) -- Microsoft Corp. and its chief executives were hit with a putative class action Monday in Massachusetts federal court, accused of misleading investors about the failure of its tablet product Surface RT, causing the company to lose $34 billion.

The Redmond, Wash.-based Microsoft led its investors to believe that the Surface RT's launch had been done in a “measured, conservative fashion,” according to a 31-page complaint.

The company, however, knew but failed to disclose to investors “that Microsoft's foray into the tablet market was an unmitigated disaster,...
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