Rackspace Technology, Inc. RXT Investors With Significant Losses Encouraged to Contact Kirby McInerney LLP About Securities Class Action
Kirby McInerney LLP reminded Rackspace Technology (RXT) investors who acquired securities between May 7 and July 8, 2026 of the September 28, 2026 deadline to seek lead plaintiff appointment in a pending securities fraud class action. The lawsuit alleges Rackspace concealed that its enterprise AI pivot would require shifting capacity and capital away from the profitable Private Cloud segment while Public Cloud revenue declined as customers contracted directly with hyperscale platforms. The claims follow Rackspace's July 9, 2026 disclosure cutting FY2026 revenue guidance by $150 million, on which news the stock fell 33.6% to close at $4.37 per share.
Key figures
- Stock close jul9 2026
- 4.37
- Workforce reduction pct
- 15%
- Stock drop pct jul9 2026
- -33.6%
- Fy26 revenue guidance cut
- $150 million
- Expected annualized savings
- $75 million to $85 million
- Fy26 private cloud outlook cut
- $25 million
- Fy26 public cloud estimate cut
- $125 million
AI analysis
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