Prongay & Murray LLP ("GPM") reminds investors of the February
25, 2019 deadline to file a lead plaintiff motion in the class
action filed on behalf of investors that purchased DXC Technology
Company ("DXC" or the "Company") (NYSE: DXC)
securities between February 8, 2018 and November 6, 2018,
inclusive (the "Class Period"). DXC investors have until February
25, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here
On November 6, 2018, DXC announced that it would be reducing its 2019
revenue projection by over $800 million. This announcement follows news
on October 24, 2018 that DXC had earlier that month laid off the head of
sales force for the Americas, along with further recent layoffs of
senior management amid loss of forecasted revenue and customer
cotracts. On this news, DXC's share price fell $9.00 per share, or more
than 12%, to close at $63.21 per share on November 7, 2018, thereby
The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements and/or failed to disclose adverse information. Specifically,
the complaint alleges that defendants: (1) failed to disclose that the
Company had changed or planned to change the operations of its sales
teams, deploying generalized sales teams as opposed to the specialized
teams that were better capable of delivering specialized services to its
clients; (2) that the Company's workforce optimization strategy of
sharply reducing staff while reducing costs was resulting in a shortage
of sales personnel who could execute on demand for services, thereby
risking and ultimately losing sales and revenue opportunities; (3) and
that, consequently, the Company's revenue and financial performance
guidance for fiscal 2019 was without a reasonable basis.
Follow us for updates on Twitter (News - Alert): twitter.com/GPM_LLP.
If you purchased shares of DXC, you may move the Court no later than February
25, 2019 to ask the Court to appoint you as lead plaintiff. To be a
member of the Class you need not take any action at this time; you may
retain counsel of your choice or take no action and remain an absent
member of the Class. If you wish to learn more about this action, or if
you have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Lesley
Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los
Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by
email to email@example.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190123005268/en/
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