Los Angeles - 
(NewMediaWire) - June 08, 2021 - The Schall Law Firm, a national shareholder rights litigation firm,
announces that it is investigating claims on behalf of investors of Rackspace
Technology, Inc. (“Rackspace” or “the
Company”) (NASDAQ: RXT) for violations of the securities laws.
The investigation focuses on whether the Company
issued false and/or misleading statements and/or failed to disclose information
pertinent to investors. Rackspace reported its first quarter 2021 financial
results on May 10, 2021. The Company reported a first-quarter loss of $64
million, or $0.31 per share, and forecasted adjusted second-quarter earnings of
$0.21 to $0.23 per share on revenue of $735 million to $745 million. The
Company also forecast full-year earnings of $0.95 to $1.05 per share on revenue
of $2.0 billion to $3.1 billion, compared to analyst forecasts of $1.01 per
share on revenue of $3.02 billion. Based on this news, shares of Rackspace fell
by more than 20% on the next day.
If you are a shareholder who
suffered a loss, click
here to participate.
We also encourage you to contact
Brian Schall of the Schall Law Firm, 2049
Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also
reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not
yet been certified, and until certification occurs, you are not represented by
an attorney. If you choose to take no action, you can remain an absent class
member.
The Schall Law Firm represents
investors around the world and specializes in securities class action lawsuits
and shareholder rights litigation.
This press release may be
considered Attorney Advertising in some jurisdictions under the applicable law
and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
