I'm LongbridgeAI, I can summarize articles.Schall, Brown & Schwartz LLP is seeking lead plaintiffs for a securities fraud class action against Rackspace Technology, Inc. (NASDAQ: RXT). The lawsuit alleges violations of the Securities Exchange Act due to false statements regarding the company's AI strategy and its impact on Private Cloud revenue. The class period is May 7, 2026, to July 8, 2026, with a deadline of September 28, 2026.
, /PRNewswire/ -- Schall, Brown & Schwartz LLP ("SBS"), a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Rackspace Technology, Inc. ("Rackspace" or "the Company") (NASDAQ: RXT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Shareholders who purchased shares of RXT during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.
CLASS PERIOD: May 7, 2026 to July 8, 2026
DEADLINE: September 28, 2026
If you are a shareholder who suffered a loss, click here to participate.
CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. Rackspace's enterprise AI business caused it to move investment and capacity away from its profitable Private Cloud business. The Company's Private Cloud revenue declined as customers transitioned to hyperscale platforms. The Company's fiscal 2026 revenue would be significantly impacted by these market challenges. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Rackspace, investors suffered damages.
We also encourage you to contact Brian Schall or David Schwartz of Schall, Brown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
Join the case to recover your losses
WHY SBS? Schall, Brown & Schwartz LLP represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Bringing together the extensive experience and diverse skillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz, SBS is dedicated to aggressively advocating for every investor.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
Schall, Brown & Schwartz LLP
Brian Schall, Esq.,
Andrew Brown, Esq.,
David Schwartz, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]
SOURCE Schall, Brown & Schwartz LLP
