{"id":50070,"date":"2026-08-03T20:02:00","date_gmt":"2026-08-03T18:02:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=0101c841886f04bf08931756e7de44ff"},"modified":"2026-08-03T20:02:00","modified_gmt":"2026-08-03T18:02:00","slug":"law-offices-of-frank-r-cruz-encourages-rackspace-technology-inc-rxt-shareholders-to-inquire-about-securities-fraud-class-action","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=50070","title":{"rendered":"Law Offices of Frank R. Cruz Encourages Rackspace Technology, Inc. (RXT) Shareholders To Inquire About Securities Fraud Class Action"},"content":{"rendered":"

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz<\/a> announces that a class action lawsuit has been filed on behalf of shareholders who 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). Rackspace investors have until September 28, 2026 <\/b>to file a lead plaintiff motion.<\/p><\/a><\/a>

\nIF YOU SUFFERED A LOSS ON YOUR RACKSPACE TECHNOLOGY, INC. (RXT) INVESTMENTS, CLICK <\/b>HERE<\/b><\/a> TO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES FRAUD LAWSUIT.<\/b><\/p>

\nYou can also contact the Law Offices of Frank R. Cruz to discuss your legal rights by email at info@frankcruzlaw.com<\/a>, by telephone at (310) 914-5007, or visit our website at www.frankcruzlaw.com<\/a>.<\/p>

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

\nOn July 9, 2026, Rackspace released preliminary second quarter 2026 financial results and lowered its 2026 outlook \u201c[t]o account for [its] transition away from certain low-margin engagements that will be redeployed to [its] enterprise AI business.\u201d The Company now estimates revenue midpoint at $2.5B (versus prior midpoint at $2.65B) and EBITDA midpoint at $290M (versus prior midpoint at $310M).<\/p>

\nOn 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>

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

\nThe 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>

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

\nIf you purchased Rackspace securities, wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click HERE<\/a> or contact us at:<\/p>

\nLaw Offices of Frank R. Cruz\n2121 Avenue of the Stars, Suite 800\nCentury City, CA 90067\nTelephone: 310-914-5007\nEmail: info@frankcruzlaw.com<\/a>Visit our website at: www.frankcruzlaw.com<\/a><\/p>

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

\nLaw Offices of Frank R. Cruz\n2121 Avenue of the Stars, Suite 800\nCentury City, CA 90067\nTelephone: 310-914-5007\nEmail: info@frankcruzlaw.com<\/a>Visit our website at: www.frankcruzlaw.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired Rackspace Technology, Inc. (\u201cRackspace\u201d or the \u201cCompany\u201d) (NASDAQ: RXT) se…<\/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-50070","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\/50070","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=50070"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/50070\/revisions"}],"predecessor-version":[{"id":50071,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/50070\/revisions\/50071"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}