Rackspace Technology, Inc. Investors: Company Investigated by the Portnoy Law Firm

Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, June 01, 2021 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Rackspace Technology, Inc. (“Rackspace” or the “Company”) (NASDAQ: RXT) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

This investigation focuses on whether Rackspace issued misleading and/or false statements and/or failed to disclose information pertinent to investors. On May 10, 2021, Rackspace reported its first quarter 2021 financial results. Rackspace reported a first-quarter loss of $64 million, or $0.31 per share, forecasting adjusted second-quarter earnings of $0.21 to $0.23 per share on revenue of $735 million to $745 million. Rackspace also forecast full-year earnings of $0.95 to $1.05 per share on revenue of $2.0 billion to $3.1 billion, in comparison with analyst forecasts of $1.01 per share on revenue of $3.02 billion. Shares of Rackspace fell by more than 20% on the next day, based on this news.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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