An investigation on behalf of investors in Rackspace Technology, Inc. (NASDAQ:RXT) shares over potential wrongdoing at Rackspace Technology, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 02/16/2023 -- An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Rackspace Technology, Inc.
Investors who purchased shares of Rackspace Technology, Inc. (NASDAQ: RXT) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Rackspace Technology directors breached their fiduciary duties and caused damage to the company and its shareholders.
On December 3, 2022, San Antonio, TX based Rackspace disclosed that it proactively powered down its Hosted Exchange environment after discovering a security incident.
On December 5, 2022, Rackspace provided an update, stating that it had "successfully restored email services to thousands of customers on Microsoft 365 and continue[s] to make progress on restoring email service to every affected customer."
Shares of Rackspace Technology, Inc. (NASDAQ: RXT) declined from $5.29 per share on December 01, 2022, to as low as $2.5120 per share on December 27, 2022.
Those who purchased shares of Rackspace Technology, Inc. (NASDAQ: RXT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.