Washington Post Publisher Will Lewis Steps Down After Layoffs 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
DBS Expects Slight Dip in 2026 Net Profit After Q4 Earnings Miss on Lower Interest Margins 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
 and Lead Plaintiff Deadline: July 10, 2017 - EconoTimes)
NEW YORK, July 10, 2017 -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Rackspace Hosting, Inc. (“Rackspace” or the “Company”) (NYSE:RAX) and certain of its officers, on behalf of shareholders who purchased Rackspace securities between November 11, 2014 and August 10, 2015, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/rax.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements that: (1) Vodafone Group Plc (“Vodafone”) had initiated extensive data migration away from Rackspace servers, signaling Vodafone’s intent to replace Rackspace with alternative providers on the contract’s April 1, 2015 expiration date, and (2) the failure to assure a renewal of the Vodafone contract would have a large financial impact on the Rackspace’s 2015 recurring revenues.
According to the complaint, following a May 11, 2015 announcement of a weak sales outlook largely due to the termination of a contract from one of Rackspace’s largest customers, concerns regarding the expiration of the contract with Vodafone brought up by analysts on a May 27, 2015 conference call, and an August 10, 2015 revelation lowering the revenue guidance, Rackspace stock dropped significantly.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/rax or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Rackspace you have until July 10, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | [email protected]
