Deadline Alert: Rackspace Technology, Inc. (RXT) Shareholders Who Lost Money Urged to Contact Glancy Prongay Wolke & Rotter LLP About Securities Fraud Lawsuit
Glancy Prongay Wolke & Rotter LLP reminds investors of the upcoming September 28, 2026 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Rackspace Technology, Inc. ("Rackspace" or the "Company") (NASDAQ: RXT) securities between May 7, 2026 and July 8, 2026 inclusive (the “Class Period”).
IF YOU SUFFERED A LOSS ON YOUR RACKSPACE TECHNOLOGY, INC. INVESTMENTS, CLICK HERETO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.
What Happened?
On July 9, 2026, before the market opened, Rackspace published second quarter 2026 financial results and “a strategic and financial update on its transition to becoming the operator of the full enterprise AI stack.” The Company revealed that its AI investments would require a significant re-prioritization of resources and, as a result, reduced its full year 2026 revenue guidance by $150 million. The Company also cut its full year 2026 Private Cloud revenue outlook by $25 million. Finally, the Company explained that “[l]ower near-term margins reflect upfront growth investment and restructuring, ahead of AI revenue ramping.”
