I predict that federal District Court Judge Alvin Hellerstein will slap these lawyers down again on this issue, as he has done before on other issues.
New York Disability Lawyer & Attorney, Turley, Redmond & Rosasco, offering services related to social security, workers compensation, NY Long Term, LTD, ERISA, insurance claim injury, scaffold & construction accidents claims. Subscribe and get breaking news, commentary, and opinions on law firms, lawyers, law schools, lawsuits, judges, and more. Am Law mentions Wilson Sonsini and Cooley, which each grew revenue by almost 14 percent, and Fenwick & West, which enjoyed an 11 percent increase in revenue. Microsoft is facing a class action suit brought by law firm Robbins Geller on behalf of purchasers of Microsoft Corporation common stock during the period between April 18, 2013 and July 18, 2013 (the "Class Period").
According to the suit, during the stated period, Microsoft "issued materially false and misleading statements regarding the Company’s financial performance and its tablet computer, the Surface RT" -- or to put it in laymen's terms, the company lied about the poor demand and sales of Surface RT, and about the earnings related to the tablet.
The class action was filed in United States District Court for the District of Massachusetts and names Microsoft CEO Steve Ballmer, former CFO Peter Klein, corporate VP and CAO Frank Brod and Chief Marketing Officer and CFO of Windows Division Tami Reller as defendants. The suit, which you can read in full here, is of course very damning, and packed with choice statements.


Unbeknownst to investors, by the end of its March 31, 2013 quarter, Microsoft had amassed a large excess of Surface RT inventory. Defendants’ materially false and misleading conduct enabled Microsoft to forestall Surface RT’s day of reckoning and delay what would be tantamount to an admission by the Company that its all-important entry into the tablet market had been a failure.
Saddled with bloated inventory of unwanted Surface RT tablets, Defendants, in the Spring of 2013, hopelessly tried to spur market demand. Then, on July 18, 2013, Microsoft issued a press release announcing that its financial results for the quarter ended June 30, 2013 had been adversely impacted by a $900 million charge related to a write-down in the value of its Surface RT inventory.
In a press release announcing the action, Robbins Geller describes itself as a firm with "expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud". In 2015, for the sixth year in a row, the nation’s 100 biggest law firms by revenue enjoyed overall growth in critical measures like overall revenue, revenue per lawyer, and profits per partner. The total number of lawyers in the Am Law 100 stayed basically flat, at just below 93,000, and the total number of equity partners actually dropped by 0.6 percent, to 20,337.
In violation of the Company’s publicly disclosed inventory accounting policy, generally accepted accounting principles (“GAAP”) and SEC rules and regulations, Defendants caused Microsoft to issue materially false and misleading financial statements and financial disclosures for the quarter ended March 31, 2013.


In November, a Los Angeles based lawyer filed a suit against Microsoft alleging that the company was misleading consumers about the amount of storage space available on the tablet.
That dip – the first annual decline since 2009, per Am Law – caused profits per partner (PPP) figures to look better than they should have.
These false and misleading statements materially misrepresented the true financial effect that Surface RT was then having on the Company’s operations. Last year was marked by slowing growth, which is generally the transition from boom to bust. Of the 77 firms that grew PPP in 2015, 10 would have actually posted declines in PPP if not for their reduction of equity partners.



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