Financial and Regulatory Concerns
The lawsuit also highlights issues regarding Richtech’s regulatory filings. The company reportedly failed to submit its annual report by a January deadline, raising questions about its eligibility to use Form S-3 at-the-market offerings. If accurate, Richtech would be barred from similar fundraising activities until January 2027, limiting its options for raising public capital.
Richtech’s annual report, cited in the complaint, shows the company generated just over $5 million in revenue in 2025 but reported a net loss exceeding $15.75 million. The figures suggest the company relies on substantial funding to maintain operations, reinforcing investor concerns about the timing and messaging of its Microsoft-related announcements.
Legal Proceedings and Defendants
Alongside Richtech Robotics Inc., the lawsuit names CEO Wayne Huang and Chief Financial Officer Michael Huang as defendants. Gonzalez Diez is represented by Phillip Kim and Laurence M. Rosen of the Rosen Law Firm PA, along with Patrick R. Leverty of Leverty & Associates Chtd.
At the time of filing, representatives for the defendants had not responded to requests for comment.
The case, Diez v. Richtech Robotics Inc. et al., Case No. 2:26-cv-00231, is currently pending in the Nevada federal court system.
