NEW YORK, Jan. 16, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against TELUS International (Cda) Inc. (“TELUS” or the “Company”) (NYSE:TIXT). The investigation concerns whether TELUS and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
[LEARN MORE ABOUT THE INVESTIGATION]
On August 1, 2024, TELUS released its Q2 2024 financial results. TELUS reported revenues of $652 million, a decrease of $15 million or 2% year-over-year, which the Company attributed to lower revenues from a leading social media client and other technology clients. Despite these challenges, TELUS’s artificial intelligence (“AI”) -related business demonstrated growth, accounting for 15% of overall revenue in the first half of 2024, with a 13% year-over-year increase. TELUS also disclosed that Jeff Puritt, then-President and CEO, was set to retire effective September 3, 2024. On this news, the price of TELUS shares declined by $2.33 per share, or approximately 36%, from $6.48 per share on August 1, 2024, to close at $4.15 on August 2, 2024.
If you purchased or otherwise acquired TELUS securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out the form below to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
