PHILADELPHIA, Aug. 21, 2024 (GLOBE NEWSWIRE) -- The law firm of Barrack, Rodos & Bacine announces that a class action lawsuit has been filed on behalf of investors who purchased stock in DXC Technology Company (“DXC”) (NYSE: DXC) from May 26, 2021 through and including May 16, 2024 (the “Class Period”).
WHAT’S THIS ABOUT?
In 2021, DXC announced a “transformative journey” to position the company for future growth. From that announcement on, the lawsuit alleges that the company repeatedly misrepresented and made false statements about this transformation, including its ability to (1) integrate acquired companies and business systems, and (2) reduce costs by restructuring and integration.
After years of allegedly misleading investors about its progress in achieving its restructuring and integration objectives, on May 16, 2024, DXC admitted – astonishingly – that it was “not a fully functional organization” and that it would need to spend an additional $250 million to achieve its restructuring and integration goals.
DXC’s share price fell almost 17% on this announcement, from $19.88 to $16.52 per share.
WHAT CAN I DO?
If you purchased DXC stock during the Class Period and sustained a loss on your investment, you are encouraged to contact us about your rights in this matter and the possibility of leading this class action lawsuit. You may contact the firm by calling Linda Border or Mark Stein at 877-386-3304, or via email at investoralert@barrack.com, or visiting the firm’s web site at https://barrack.com/contact-us.
Investors have until October 1, 2024 to submit a motion to be appointed as lead plaintiff. Your ability to participate in any recovery does not require that you serve as lead plaintiff or attempt to do so.
WHO WE ARE
Barrack, Rodos & Bacine, which achieved a then record-setting recovery for purchasers of The Mills Corporation stock in the same U.S. District Court in which the DXC case is pending, has more than four decades of experience prosecuting securities law class actions. The firm’s largest recoveries on behalf of investors include: $6.19 billion for WorldCom investors, $3.32 billion for Cendant investors, $1.05 billion for McKesson investors, and $970.5 million for AIG investors.
