An investigation for investors in Rackspace Technology, Inc. (NASDAQ:RXT) shares over potential securities laws violations by Rackspace Technology, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 01/19/2023 -- Rackspace Technology, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Rackspace Technology, Inc. (NASDAQ: RXT), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Rackspace Technology, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
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.
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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.