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Looks like the reckoning has begun. This isn't a new story, if you missed it.

Gadget Review, from yesterday: Microsoft Shareholders Sue Over $357 Billion Stock Wipeout https://www.gadgetreview.com/microsoft-shareholders-sue-over-357-billion-stock-wipeout

Reuters, from June 15: Microsoft sued by shareholders over expenses, cloud business, AI https://www.reuters.com/business/microsoft-sued-by-shareholders-over-expenses-cloud-business-ai-2026-06-15/ @Reuters #Microsoft #Azure #Copilot

Microsoft Shareholders Sue Over $357 Billion Stock Wipeout

Microsoft shareholders sue over a $357 billion stock drop tied to Azure slowdown and AI spending opacity allegations against Nadella and CFO Amy Hood.

Gadget Review
Jun 19 at 3:57pmWeb
Show threadKevin Dominik Korte1d ago
@AAKL @Reuters I'd say that it's more Microsoft-specific and less of an industry-wide reconing.
It ultimately comes down to whether Microsoft's management deliberately misclassified income and expenses in its accounting practices to bend the numbers in its favor. AI happens to be the category in question.
Or said differently, it's less AI and more Enron.