NEW YORK, December 24, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Rackspace Technology, Inc. (“Rackspace” or the “Company”) RXT. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Rackspace and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On December 3, 2022, Rackspace announced that it proactively shut down its Hosted Exchange environment after discovering a security incident. On December 5, 2022, Rackspace provided an update stating that “Email services for thousands of customers have been successfully restored to Microsoft 365 and are continuing[s] to make progress toward restoring email service to each affected customer.”

Following these disclosures, Rackspace’s stock price fell $0.75 per share, or 15.46%, to close at $4.10 per share on December 5, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.

CONTACT:
Robert S Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980