LOS ANGELES, Aug. 5, 2026 /PRNewswire/ — Glancy Prongay Wolke & Rotter LLP announces that investors with losses have opportunity to lead the securities fraud class action lawsuit against Rackspace Technology, Inc.
IF YOU SUFFERED A LOSS ON YOUR RACKSPACE TECHNOLOGY, INC. INVESTMENTS, CLICK HERE BEFORE SEPTEMBER 28, 2026 (LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT
What Is The Lawsuit About?
The complaint filed in this class action alleges that between May 7, 2026 and July 8, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company’s enterprise AI efforts would require Rackspace to significantly re-prioritize its capacity and capital away from the profitable Private Cloud segment; (2) that Rackspace’s 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’s fiscal year 2026 revenue would be significantly impacted; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
What’s The Next Step?
Glancy Prongay Wolke & Rotter LLP is a leading national shareholder rights law firm, ready to assist you in potentially pursuing claims to recover your loss.
If you wish to serve as lead plaintiff, you must move the Court no later than September 28, 2026. Please contact us to learn more about your rights and interests by clicking here, by email (shareholders@glancylaw.com), or by telephone at 310-201-9150 (Toll-Free: 888-773-9224).
You may retain counsel of your choice. If you bought securities during the class period, you may take no action and remain an absent class member. No class has been certified yet.
Why Glancy Prongay Wolke & Rotter LLP?
GPWR is a premier law firm with decades of experience representing investors and consumers in securities litigation and other complex class action litigation. Recognizing the firm’s recent successes, GPWR was named one of Law360’s Securities Groups of the Year and ranked 2nd in total investor recoveries by Institutional Shareholder Services Securities Class Action Services in 2025. GPWR’s lawyers have handled cases covering a wide spectrum of corporate misconduct and relating to nearly all industries and sectors. GPWR’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron’s, Investor’s Business Daily, Forbes, and Money. Prior results do not guarantee a similar outcome.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contact Us:
Glancy Prongay Wolke & Rotter LLP,
1925 Century Park East, Suite 2100,
Los Angeles, CA 90067
Charles Linehan
Email: shareholders@glancylaw.com
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at: www.glancylaw.com.
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SOURCE Glancy Prongay Wolke & Rotter LLP
