RXT Deadline Alert: SueWallSt Reminds Rackspace Technology, Inc. (RXT) Investors of Securities Class Action Deadline on September 28, 2026
SueWallSt, a plaintiff-side brand powered by Levi & Korsinsky LLP, issued a deadline notice reminding Rackspace Technology (RXT) investors of the September 28, 2026 lead plaintiff deadline in a securities class action filed in the Southern District of New York. The suit covers purchasers between May 7 and July 8, 2026 and alleges Rackspace quantified restructuring costs in June while withholding the revenue impact of its enterprise AI buildout until the July 9 update, when a $150 million revenue guidance cut sent shares down 33.6% to $4.37.
Key figures
- Guidance
- FY2026 revenue guidance reset from $2,600M-$2,700M to $2,450M-$2,550M (a $150 million cut); adjusted EBITDA guidance cut by $20 million
- Class period
- May 7, 2026 - July 8, 2026
- Stock drop pct
- 33.6%
- Stock drop usd
- $2.21
- Class period high
- 7.53
- Ebitda guidance cut
- $20 million
- Workforce reduction
- 15% of global workforce
- Revenue guidance cut
- $150 million
- Close price july 9 2026
- 4.37
- Lead plaintiff deadline
- September 28, 2026
- Expected annualized savings
- $75M-$85M
- Revised guidance yoy revenue
- (9)% to (5)%
- Public cloud operating margin
- 4.7%
- Private cloud operating margin
- 24.7%
- Restructuring one time charges
- $14M-$19M
AI analysis
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