RXT Lawsuit Alert: Rackspace Sued for Securities Fraud after AI Effort Leads to 33% Stock Drop – Investors Notified to Contact BFA Law

Bleichmar Fonti & Auld LLP announced a class action lawsuit against Rackspace Technology, alleging securities fraud related to misleading statements about its AI efforts and financial impact. The lawsuit follows a reported 33.6% stock drop on July 9, 2026, after the company allegedly cut its full-year revenue guidance by $150 million and private cloud outlook by $25 million.

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