Shareholders filed a class-action lawsuit against Microsoft for allegedly misleading investors about Azure cloud growth. The filing claims the company concealed a slowdown in its cloud business and rising artificial intelligence infrastructure costs. Plaintiffs allege these omissions led to an artificially inflated stock price.
Microsoft shares fell 10% on January 29. The decline marked the largest single-day drop in nearly six years. The sell-off erased approximately $357 billion in market value. The lawsuit names CEO Satya Nadella and CFO Amy Hood as defendants.
Legal & General signed a three-year agreement to deploy Microsoft 365 Copilot. The insurer will provide the generative AI tool to 10,000 global employees. Microsoft also launched its Work IQ APIs for general availability to help developers integrate Microsoft 365 data.