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Kirby McInerney LLP Alerts Investors Who Acquired Rackspace Technology, Inc. RXT Securities Between May 7, 2026 and July 8, 2026 of Pending Lawsuit
GlobeNewswire Inc.·
Law firm Kirby McInerney LLP announced pending securities class action lawsuits against Rackspace Technology for allegedly making false statements about its business transition to enterprise AI. The lawsuit covers investors who purchased RXT securities between May 7, 2026 and July 8, 2026. Rackspace's stock fell 33.6% on July 9, 2026 after the company revealed significant revenue guidance cuts of $150 million and disclosed that AI investments would require major resource reallocation away from profitable segments.
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