Investors Suing Microsoft Over reporting false sales #s

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Beefkebob

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#1  Edited By Beefkebob
Member since 2013 • 84 Posts

Investors Suing Microsoft Over Misleading Surface RT Info

It seems that the press wasn't the only entity unaware of how dismal Surface RT sales were until Microsoft's fourth quarter and full year results report back in July. The company revealed a $900 million "inventory adjustment" thanks to a stockpile of unsold Surface RT tablets, and now Microsoft investors are suing the company, claiming that they were "misled" because Microsoft failed to fully disclose sales figures of the Surface RT tablet during a specific window.

The class action lawsuit was filed by the Robbins Geller Rudman & Dowd law firm in the United States District Court for the District of Massachusetts. It was on behalf of purchasers of Microsoft common stock during the period between April 18, 2013 and July 18, 2013, aka the "Class Period". It claims that Microsoft violated the Securities Exchange Act by providing materially false and misleading statements regarding financial performance related to the ARM-based tablet.

According to the lawsuit, Microsoft misrepresented and failed to make public the fact that Surface RT was suffering poor demand and lackluster sales, that the overall inventory experienced a material decline in value during the quarter ending March 31, and that the financial statements for the same quarter were materially false and misleading. This non-disclosure of actual facts violated Generally Accepted Accounting Principles and Microsoft’s publicly disclosed policy of accounting for inventories

http://www.tomshardware.com/news/surface-rt-lawsuit-class-action-shareholders-misleading,23875.html

Hmmm, this seems eerily similair to the xbone situation right now doesnt it...

Microsoft in a crazed frenzy trying to claim that the xbone is selling just as much as the PS4....

Microsoft claiming that xbones are sold out at all retailers YET retailers are coming forward saying that they still have xbone day one stock sitting on shelfes

Microsoft has blatantly lied about sales numbers before as proven per the referenced lawsuite....are we really going to trust Microsft PR xbone sales numbers now....this is all too eeirly similair in fact..

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Beefkebob

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#2 Beefkebob
Member since 2013 • 84 Posts

Comments from the article:

"Knew this was coming down eventually. This could be big, because this lawsuit, unlike so many others, has legs"

"It's clear to me that Microsoft's first priority is figuring out ways to make more money instead of actually predicting what consumers want. It seems now that Microsoft are trying to copy the competition, build products to try and draw in new customers but alienate existing customers, and nickel and dime for fees on everything. Not the way to do business."

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Gaming-Planet

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#3 Gaming-Planet
Member since 2008 • 21064 Posts

Poor, Microsoft.

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Heil68

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#4  Edited By Heil68
Member since 2004 • 60681 Posts

Interesting turn of events. DUN DUN DUNNNNNNN

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blackace

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#5  Edited By blackace
Member since 2002 • 23576 Posts

Someone is butthurt. LMAO!! Cows are in desperation as the PS4 isn't outselling the XB1 2:1 like they thought it would. Keep crying dude. It's BIG LAUGHS on SW.

Also, the article is because M$ didn't disclose the sales of the RT Surface. They didn't give false sales. They didn't give them any sales figures. Same way Sony didn't give any sale figures for the PS3 for 30+ months when the NPD numbers came out. lol!! Im surprised investors didn't sue them.

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GrenadeLauncher

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#6 GrenadeLauncher
Member since 2004 • 6843 Posts

Expect to see that a lot more over the next 12 months.

@blackace said:

Someone is butthurt. LMAO!! Cows are in desperation as the PS4 isn't outselling the XB1 2:1 like they thought it would. Keep crying dude. It's BIG LAUGHS on SW.

Also, the article is because M$ didn't disclose the sales of the RT Surface. They didn't give false sales. They didn't give them any sales figures. Same way Sony didn't give any sale figures for the PS3 for 30+ months when the NPD numbers came out. lol!! Im surprised investors didn't sue them.

You mean like when the PS4 blew past two million two weeks ago and is selling more on average per day than the Bone?

Crawl away, blackace.

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hippiesanta

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#7 hippiesanta
Member since 2005 • 10301 Posts

I believe last gen PS3 sold more than Xbox 360 too.......

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Douevenlift_bro

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#9  Edited By Douevenlift_bro
Member since 2013 • 6804 Posts

and thus TLHBO begins once again...

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Kid_Black_Star

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#10 Kid_Black_Star
Member since 2009 • 506 Posts

Oh man... This is a bad look indeed, why would they have the need to lie when millions of people bought an Xbox 360 last gen.

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deactivated-5d6bb9cb2ee20

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#11 deactivated-5d6bb9cb2ee20
Member since 2006 • 82724 Posts

For the Surface. Not the Xbox.

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Kid_Black_Star

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#12 Kid_Black_Star
Member since 2009 • 506 Posts

@hippiesanta Unless you have a chart so I can see this then sure I will believe you. Because now you just blew my mind with that statement.

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SolidTy

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#13 SolidTy
Member since 2005 • 49991 Posts

I wish I cared more about sales...

I am tempted to say I'm surprised, I suppose.

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Vaasman

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#14 Vaasman
Member since 2008 • 15541 Posts

4 month old article for an unrelated product.

Go back to your main account you coward.

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Zoso813

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#15  Edited By Zoso813
Member since 2013 • 310 Posts

Actually this is kind of a big deal....but not for the Xbox. Violating GAAP is a nono these days.

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waltefmoney

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#16 waltefmoney
Member since 2010 • 18030 Posts

Microsoft is one of the most profitable companies in the world. Sony is a company that does nothing but bleed money and will be dead in a few years.

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Sweenix

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#17 Sweenix
Member since 2013 • 5957 Posts

@waltefmoney said:

Microsoft is one of the most profitable companies in the world. Sony is a company that does nothing but bleed money and will be dead in a few years.

They stopped bleeding money sometime ago

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hippiesanta

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#18 hippiesanta
Member since 2005 • 10301 Posts

@Kid_Black_Star said:

@hippiesanta Unless you have a chart so I can see this then sure I will believe you. Because now you just blew my mind with that statement.

microsoft could make their own fake chart ..........

we only can assume .... but

we all know who ms is .......

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XboxDone74

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#19 XboxDone74
Member since 2013 • 2116 Posts

Wow. I...I always thought "nah, Microsoft would never lie to the investors. They'd eventually get caught." But... wow. They actually did. Now... when will it come out they lied about Xbone sales?

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XboxDone74

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#20 XboxDone74
Member since 2013 • 2116 Posts

@waltefmoney said:

Microsoft is one of the most profitable companies in the world. Sony is a company that does nothing but bleed money and will be dead in a few years.

folks have been saying that for years. yet, Sony lives on. stay mad. :)

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AtariKidX

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#21 AtariKidX
Member since 2010 • 7156 Posts

Microsoft lying....again.

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Kid_Black_Star

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#22  Edited By Kid_Black_Star
Member since 2009 • 506 Posts

@hippiesanta MS is what?! full of dog poop you say? yes, they are full of it.

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uninspiredcup

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#23 uninspiredcup
Member since 2013 • 58646 Posts

What a shame.

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Kid_Black_Star

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#24 Kid_Black_Star
Member since 2009 • 506 Posts

@waltefmoney Coming from the guy who has a wallet full of money OOOOOOO

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mems_1224

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#25 mems_1224
Member since 2004 • 56919 Posts

Man, this is some desperate ass damage control. Cows are running scared now that the PS4 launch was a failure.

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navyguy21

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#26 navyguy21
Member since 2003 • 17401 Posts

The article says nothing about Xbox. No one actually read it?

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XboxDone74

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#27 XboxDone74
Member since 2013 • 2116 Posts

@mems_1224 said:

Man, this is some desperate ass damage control. Cows are running scared now that the PS4 launch was a failure.

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granddogg

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#28 granddogg
Member since 2006 • 731 Posts

old as dirt....man you cows are sad bunch...

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XboxDone74

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#29  Edited By XboxDone74
Member since 2013 • 2116 Posts
@navyguy21 said:

The article says nothing about Xbox. No one actually read it?

Nobody mentioned anything about xbone. :-/

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navyguy21

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#30 navyguy21
Member since 2003 • 17401 Posts

TC, do you actually know what that means?

Hint: It isnt as you are reading it.

All with hard assets or hardware to sell do it if the product isnt selling as expected. You do it to buffer terrible sales.

MS and Sony both have done it before by combining and consolidating departments to limit loss-reporting.

If someone didnt do proper research to see thru the PR jumble, its their own fault.

I dont agree with it, but it is legal, and most hardware companies do it.

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lamprey263

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#31  Edited By lamprey263
Member since 2006 • 44503 Posts

it seems to me that the firm would have to prove a loss on behalf of its clients as a result of this false or misleading information, might be harder to prove since Microsoft posted significant gain in net profits for the year

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SuperCowElitist

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#32  Edited By SuperCowElitist
Member since 2013 • 732 Posts

Could they possibly be lying about Xbone sales to get some good news? Even if they lied about Xbone sales, Lemmings would be lemmings and jump off the cliff to defend them

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navyguy21

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#33 navyguy21
Member since 2003 • 17401 Posts

@xboxdone74 said:
@navyguy21 said:

The article says nothing about Xbox. No one actually read it?

Nobody mentioned anything about xbone. :-/

Well it is posted in system wars, and isnt gaming related. So it shouldnt be posted here at all, but TC knew what he was doing.

As i said earlier, combining produucts or consolidating divisions has been done before MS. Sony has even done it, whats your response to that?

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BeardMaster

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#34 BeardMaster
Member since 2012 • 1686 Posts

it clearly states in the article they didnt disclose sales.

nothing about them lying about sales.

not disclosing sales is kind of a grey area, but outright lying is incredibly serious and incredibly unlikely. MS sold however many consoles they have claimed to sold. Deal with it.

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XboxDone74

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#35 XboxDone74
Member since 2013 • 2116 Posts

@navyguy21: Jelly? :-)

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navyguy21

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#36 navyguy21
Member since 2003 • 17401 Posts

@xboxdone74 said:

@navyguy21: Jelly? :-)

lmao, wtf?

How old are you?

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deactivated-583e460ca986b

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#37 deactivated-583e460ca986b
Member since 2004 • 7240 Posts

Old article not related to xbox one. Yet I'm sure this will blow up on IGN and boogie2988 will quote it. The Web hates the Xbox One. But in the real world things are very even. I bought my brother in law a PS4 at Walmart today but still cannot find an xbox one for my brother. I have photos to back it all up too.

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#39  Edited By Beefkebob
Member since 2013 • 84 Posts

@BeardMaster said:

it clearly states in the article they didnt disclose sales.

nothing about them lying about sales.

not disclosing sales is kind of a grey area, but outright lying is incredibly serious and incredibly unlikely. MS sold however many consoles they have claimed to sold. Deal with it.

Wow at the Microsoft defense force members in this thread. PATHETIC!

*cough You, Navyguy21, Blackace, GoldenElementXL, Mems, Vaasman etc cough*

It says right there in the last paragraph:

"Microsoft misrepresented and failed to make public the fact that Surface RT was suffering poor demand and lackluster sales, that the overall inventory experienced a material decline in value during the quarter ending March 31, and that the financial statements for the same quarter were materially false and misleading. This non-disclosure of actual facts violated Generally Accepted Accounting Principles and Microsoft’s publicly disclosed policy of accounting for inventorie"

Its plain as day what that means.

Microsoft is getting sued by investors for a REASON. Something like this doesnt just happen.

And even most analysts say that this lawsuite has serious legs on it....

IF Microsoft has already been caught LYING about the performance of their other products....so much so that they are getting sued by their investors...what is to say that Microsoft isnt lying about the performance of the xbone to keep its public perception up there with the PS4

Use your heads

Mind you the PS4 actually has the numbers, data, and demand to back up its sales numbers, the xbone doesnt. All the xbone has is Microsoft PR saying its selling "just as good," but we have already established that Microsoft's word is full of shit and that they have already been CAUGHT blatantly lying and or purposely misleading or skewing/distorting etc.

Anyone who defends Microsoft here is a straight up Microsoft shill....But i guess this thread is good for exposing the shills, or xboner dummies, becuase they will come out to defend Microsoft here....thus it will let us see and know which members are Microsoft shills or are xboners to be shamed and disregarded etc

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nyzma23

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#40 nyzma23
Member since 2013 • 1003 Posts

OMG why you care so much about xbone tc ,go play your ps4 and make some friends and go outside

surface rt is last year product and investor mad because microsoft didn't give them report about sales figure until it's too late and microsoft announce that surface rt cost them $900m

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casharmy

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#41  Edited By casharmy
Member since 2011 • 9388 Posts

@beefkebob said:

@BeardMaster said:

it clearly states in the article they didnt disclose sales.

nothing about them lying about sales.

not disclosing sales is kind of a grey area, but outright lying is incredibly serious and incredibly unlikely. MS sold however many consoles they have claimed to sold. Deal with it.

Wow at the Microsoft defense force members in this thread. PATHETIC!

*cough You, Navyguy21, Blackace, GoldenElementXL, Mems, Vaasman etc cough*

It says right there in the last paragraph:

"Microsoft misrepresented and failed to make public the fact that Surface RT was suffering poor demand and lackluster sales, that the overall inventory experienced a material decline in value during the quarter ending March 31, and that the financial statements for the same quarter were materially false and misleading. This non-disclosure of actual facts violated Generally Accepted Accounting Principles and Microsoft’s publicly disclosed policy of accounting for inventorie"

Its plain as day what that means.

Microsoft is getting sued by investors for a REASON. Something like this doesnt just happen.

And even most analysts say that this lawsuite has serious legs on it....

IF Microsoft has already been caught LYING about the performance of their other products....so much so that they are getting sued by their investors...what is to say that Microsoft isnt lying about the performance of the xbone to keep its public perception up there with the PS4

Use your heads

Mind you the PS4 actually has the numbers, data, and demand to back up its sales numbers, the xbone doesnt. All the xbone has is Microsoft PR saying its selling "just as good," but we have already established that Microsoft's word is full of shit and that they have already been CAUGHT blatantly lying and or purposely misleading or skewing/distorting etc.

Anyone who defends Microsoft here is a straight up Microsoft shill....But i guess this thread is good for exposing the shills, or xboner dummies, becuase they will come out to defend Microsoft here....thus it will let us see and know which members are Microsoft shills or are xboners to be shamed and disregarded etc

a lot of people generally hate you bro fist, but this post of yours here is pretty spot on. There is nothing to defend MS on here. This thread is straight to the point, MS lying about sales figures.

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Beefkebob

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#42  Edited By Beefkebob
Member since 2013 • 84 Posts

@nyzma23 said:

surface rt is last year product and investor mad because microsoft didn't give them report about sales figure until it's too late

Youre WRONG

That excuse doesnt fly.

This paragraph here EXPLICITY STATS thats it has a lot more to do with it then just Microsoft failing to report sales figuers on time.

Microsoft violated the Securities Exchange Act by providing materially false and misleading statements regarding financial performance related to the ARM-based tablet.

There it is in the BOLDED ^

Microsoft straight up LIED about performance providing FALSE statements i.e which include reporting false sales numbers etc

Man, you xbots need to learn how to read.

The precedent has been set to NEVER trust Microsoft PR on sales figuers or to make truthful statements about the performance of their shitty products!

BTW,

I love playing my PS4...and now Im here posting....I will do what I like.....let me ask you, why DO YOU CARE enough to defend Microsoft? Are you a Microsoft shill bot. Why dont you shut up and go play your xbone. Oh thats right, most xbot shills dont even have an xbone, they just spend their time trying trolling on forums.

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tormentos

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#44 tormentos
Member since 2003 • 33784 Posts

@mems_1224 said:

Man, this is some desperate ass damage control. Cows are running scared now that the PS4 launch was a failure.

How was the PS4 launch a failure your sad troll.?

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mems_1224

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#45 mems_1224
Member since 2004 • 56919 Posts

@tormentos said:

@mems_1224 said:

Man, this is some desperate ass damage control. Cows are running scared now that the PS4 launch was a failure.

How was the PS4 launch a failure your sad troll.?

moo

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TF626

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#46 TF626
Member since 2010 • 593 Posts

It's funny how Microsoft has copied Apple in terms of its presentation, and making these 4 minute videos on its products calling it "magical", "changing the world". No originality from MS. Go watch Xbox anthem, it's probably the cheesiest thing I've ever watched.

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Evo_nine

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#47 Evo_nine
Member since 2012 • 2224 Posts

cow desperation

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Evo_nine

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#48 Evo_nine
Member since 2012 • 2224 Posts

@tormentos said:

@mems_1224 said:

Man, this is some desperate ass damage control. Cows are running scared now that the PS4 launch was a failure.

How was the PS4 launch a failure your sad troll.?

Their best game is a crappy indie title.

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tormentos

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#49 tormentos
Member since 2003 • 33784 Posts

@Evo_nine said:

@tormentos said:

@mems_1224 said:

Man, this is some desperate ass damage control. Cows are running scared now that the PS4 launch was a failure.

How was the PS4 launch a failure your sad troll.?

Their best game is a crappy indie title.

That crappy Indie is higher rate than all xbox one exclusives on Meta and gamerankings ...hahaha But but Gamespot only matter,...hahaha

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silversix_

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#50 silversix_
Member since 2010 • 26347 Posts

MS are all liars and there's no better example but their own 5 billion transistors (that di absolutely no shit and CoD is in 720p LOL) and THE CLOUD that was supposed to make an Xbox 1 as powerful as three xbone.