ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Rackspace Technology, Inc. and Encourages Investors with Losses to Contact the Firm
Los Angeles, California--(Newsfile Corp. - June 9, 2021) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Rackspace Technology, Inc. ("Rackspace" or "the Company") (NASDAQ: RXT) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Rackspace reported its first quarter 2021 financial results on May 10, 2021. The Company reported a first-quarter loss of $64 million, or $0.31 per share, and forecasted adjusted second-quarter earnings of $0.21 to $0.23 per share on revenue of $735 million to $745 million. The Company also forecast full-year earnings of $0.95 to $1.05 per share on revenue of $2.0 billion to $3.1 billion, compared to analyst forecasts of $1.01 per share on revenue of $3.02 billion. Based on this news, shares of Rackspace fell by more than 20% on the next day.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 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 firstname.lastname@example.org.
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.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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