Microsoft Surface RT Statement Brings on new Lawsuit

Resulted in huge losses for Microsoft shareholders, Microsoft is accused of issuing “materially false and misleading financial statements and financial disclosures for the quarter ended March 31, 2013,”, this according to the suit filed today in a Massachusetts district court. The Surface RT tablet debuted in October alongside Windows 8. Last month, Microsoft revealed that Surface revenue was $853 million between Oct. 2012 and June 2013. That might not seem too shabby, but Microsoft recently incurred a $900 million charge for Surface RT inventory adjustments, and boosted advertising costs for Windows 8 and the Surface by $898 million. Read the full story here.