Buyers can contact the legislation agency for gratis to study extra about recovering their losses
LOS ANGELES, June 01, 2021 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Rackspace Know-how, Inc. (“Rackspace” or the “Firm”) (NASDAQ: RXT) buyers that the agency has initiated an investigation into doable securities fraud, and should file a category motion on behalf of buyers.
Buyers are inspired to contact lawyer Lesley F. Portnoy, by cellphone 310-692-8883 or email: [email protected], to debate their authorized rights, or click here to affix the case by way of www.portnoylaw.com. The Portnoy Legislation Agency can present a complimentary case analysis and talk about buyers’ choices for pursuing claims to get better their losses.
This investigation focuses on whether or not Rackspace issued deceptive and/or false statements and/or did not disclose info pertinent to buyers. On Might 10, 2021, Rackspace reported its first quarter 2021 monetary outcomes. Rackspace reported a first-quarter lack of $64 million, or $0.31 per share, forecasting adjusted second-quarter earnings of $0.21 to $0.23 per share on income of $735 million to $745 million. Rackspace additionally forecast full-year earnings of $0.95 to $1.05 per share on income of $2.0 billion to $3.1 billion, compared with analyst forecasts of $1.01 per share on income of $3.02 billion. Shares of Rackspace fell by greater than 20% on the subsequent day, primarily based on this information.
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The Portnoy Legislation Agency represents buyers in pursuing claims arising from company wrongdoing. The Agency’s founding accomplice has recovered over $5.5 billion for aggrieved buyers. Lawyer promoting. Prior outcomes don’t assure related outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar