{"id":47852,"date":"2026-07-30T06:24:00","date_gmt":"2026-07-30T04:24:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=0a103ed8e0d18478849576d1dfed7e2d"},"modified":"2026-07-30T06:24:00","modified_gmt":"2026-07-30T04:24:00","slug":"rxt-class-action-notice-glancy-prongay-wolke-rotter-llp-files-securities-fraud-lawsuit-on-behalf-of-rackspace-technology-inc-investors","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=47852","title":{"rendered":"RXT CLASS ACTION NOTICE: Glancy Prongay Wolke & Rotter LLP Files Securities Fraud Lawsuit On Behalf Of Rackspace Technology, Inc. Investors"},"content":{"rendered":"

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay Wolke & Rotter LLP<\/a> (\u201cGPWR\u201d), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Morgan-Reed v. Rackspace Technology, Inc., et al.,<\/i> Case No. 26-cv-06491, on behalf of persons and entities that purchased or otherwise acquired Rackspace Technology, Inc. (\u201cRackspace\u201d or the \u201cCompany\u201d) (NASDAQ: RXT<\/a>) securities between May 7, 2026 and July 8, 2026<\/b>, inclusive (the \u201cClass Period\u201d). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d).<\/p><\/a><\/a>

Investors are hereby notified that they have 60 days from the date of this notice<\/b> to move the Court to serve as lead plaintiff in this action.<\/p>

IF YOU SUFFERED A LOSS ON YOUR RACKSPACE INVESTMENTS, CLICK <\/b>HERE<\/b><\/a> TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.<\/b><\/p>

What Happened?<\/b><\/p>

On July 9, 2026, before the market opened, Rackspace published second quarter 2026 financial results and \u201ca strategic and financial update on its transition to becoming the operator of the full enterprise AI stack.\u201d The Company revealed that its AI investments would require a significant re-prioritization of resources and, as a result, reduced its full year 2026 revenue guidance by $150 million. The Company also cut its full year 2026 Private Cloud revenue outlook by $25 million. Finally, the Company explained that \u201c[l]ower near-term margins reflect upfront growth investment and restructuring, ahead of AI revenue ramping.\u201d<\/p>

On this news, Rackspace\u2019s stock price fell $2.21, or 33.6%, to close at $4.37 per share on July 9, 2026, thereby injuring investors.<\/p>

What Is The Lawsuit About?<\/b><\/p>

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company\u2019s enterprise AI efforts would require Rackspace to significantly re-prioritize its capacity and capital away from the profitable Private Cloud segment; (2) that Rackspace\u2019s Public Cloud revenue was declining as customers contracted directly with hyperscale cloud platforms; (3) that, as a result, Rackspace was likely to significantly reduce a material portion of its Public Cloud infrastructure resale business; (4) as a result, the Company\u2019s fiscal year 2026 revenue would be significantly impacted; and (5) that, as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>

If you purchased\u202for otherwise acquired Rackspace securities during the Class Period,\u202fyou may move the Court no later than\u202f60 days from the date of this notice<\/b> to ask the Court to appoint you as lead plaintiff.<\/p>

Contact Us To Participate or Learn More:<\/b><\/p>

If you wish to\u202flearn more\u202fabout this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:Charles Linehan, Esq.Glancy Prongay Wolke & Rotter LLP1925 Century Park East, Suite 2100Los Angeles California 90067Email: shareholders@glancylaw.com<\/a>Telephone: 310-201-9150Toll-Free: 888-773-9224Visit our website at www.glancylaw.com<\/a>.Follow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.<\/p>

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.<\/p>

To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no\u202faction and remain an absent member of the Class.<\/p>

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p> Contacts<\/b>

Glancy Prongay Wolke & Rotter LLP1925 Century Park East, Suite 2100Los Angeles, CA 90067Charles Linehan<\/b>Email: shareholders@glancylaw.com<\/a>Telephone: 310-201-9150Toll-Free: 888-773-9224Visit our website at: www.glancylaw.com<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay Wolke & Rotter LLP (\u201cGPWR\u201d), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Morgan-Reed v. Rackspace Technology, I…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-47852","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/47852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47852"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/47852\/revisions"}],"predecessor-version":[{"id":47853,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/47852\/revisions\/47853"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}