Microsoft shareholders sue tech giant ‘hiding’ slow cloud growth
Microsoft is facing a legal battle after shareholders filed a proposed class-action lawsuit accusing the tech giant of ‘fraud’. The suit alleges that Microsoft inflated its stock price by hiding a slowdown in its crucial Azure cloud business while quietly pouring billions of extra dollars into artificial intelligence (AI) infrastructure. According to a report by news agency Reuters, the lawsuit has been filed in a Seattle federal court by a Michigan-based pension fund, the City of St. Clair Shores Police and Fire Retirement System.
Why shareholders have sued Microsoft
