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Rackspace Technology, Inc. Investors: Company Investigated

Investors can contact the law firm for free to learn more about recovering their losses

LOS ANGELES, June 01, 2021 (GLOBE NEWSWIRE) – The Portnoy Law Office informs Rackspace Technology, Inc. (“Rackspace” or the “Company”) (NASDAQ: RXT) investors that the company has initiated an investigation into possible securities fraud and that it may commence a class action lawsuit on behalf of the investors.

Investors are encouraged to consult an attorney Lesley F. Portnoy, by phone 310-692-8883 or E-mail: lesley@portnoylaw.com to discuss your legal rights, or Click here to join the case over www.portnoylaw.com. Portnoy law firm can provide a free case assessment and discuss investor options to recover their losses.

This investigation focuses on whether Rackspace has made misleading and / or false information and / or failed to disclose information about investors. On May 10, 2021, Rackspace announced its financial results for the first quarter of 2021. Rackspace reported a loss of $ 64 million, or $ 0.31 per share, for the first quarter and forecast adjusted earnings of $ 0.21 to $ 0.23 per share for the second quarter on revenue of 735 to $ 745 million. Rackspace also forecasts 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 with sales of $ 3.02 billion. Rackspace shares fell more than 20% on the news the next day.

Please visit our website to review more information and submit your transaction information.

Portnoy law firm represents investors in prosecuting claims arising from corporate misconduct. The company’s founding partner has recovered over $ 5.5 billion for aggrieved investors. Lawyer advertising. Previous results do not guarantee similar results.

Lesley F. Portnoy, Esq.
Approved CA and NY bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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