Robbins LLP Urges Big Loss DXC Technology Company Shareholders to Seek Counsel for Pending Class Action

(MENAFN- GlobeNewsWire – Nasdaq) SAN DIEGO, Aug. 22, 2024 (GLOBE NEWSWIRE) — Robbins LLP reminds investors that a shareholder has filed a class action on behalf of all persons and entities that acquired or otherwise acquired DXC Technology Company ( NYSE: DXC) common stock between May 26, 2021 and May 16, 2024. DXC is an Information Technology (“IT”) services and consulting company.

For more information, submit a form, email Attorney Aaron Dumas, Jr., or call us at (800) 350-6003.

The charges: Robbins LLP is investigating allegations that DXC Technology Company (DXC) misled investors about its operations and financial health.

According to the complaint, during the course period, the defendants misrepresented the ongoing “transformation journey” and the Company’s ability to integrate previously acquired companies and business systems. While expressing continued success in implementing this integration, DXC has repeatedly emphasized its commitment to reduce the Company’s restructuring and transaction, separation and integration (“TSI”) costs in order to increase its cash flow free and to “unleash (its) true earning power. ” Indeed, Defendants knew or failed to realize that the Company was only able to reduce its restructuring and TSI costs by limiting its integration efforts.

The complaint alleges that on August 3, 2022, DXC reported disappointing first-quarter results despite reiterating its guidance just six weeks prior. DXC blamed its poor performance on the fact that “its cost optimization efforts have moved at a slower pace than anticipated.” These disclosures caused the price of DXC common stock to drop 17%, from $31.52 per share to $26.15 per share.

Then, on May 16, 2024, DXC’s CEO admitted that “past restructurings did not establish a real, clean, solid, fully integrated foundation for profitable growth” because the systems that were acquired over time were ” never integrated, never deduced”. and admitted that the company “was not (a) fully functional organization”. DXC also announced that it would have to spend an additional $250 million to complete the restructuring and integration process it falsely claimed it had successfully implemented during the class period. These disclosures caused the price of DXC common stock to drop nearly 17%, from $19.88 per share to $16.52 per share.

what now : You may be eligible to join the class action against DXC Technology. Shareholders who wish to serve as lead plaintiffs for the class should contact Robbins LLP. A lead plaintiff is a representative party who acts on behalf of other class members in conducting the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose not to take any action, you may remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders do not pay commissions or expenses.

About Robbins LLP : Some law firms issuing briefs on this matter are not actually litigating securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff at Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company directors accountable for their wrongdoing since 2002. Since our founding , we raised over $1 billion. for shareholders.

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