DXC Technology Company
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
On August 3, 2022, DXC reported disappointing first-quarter financial results for fiscal year 2023, citing slower-than-expected progress in cost optimization. This news caused DXC’s stock price to drop by $5.37, or 17%, closing at $26.15 per share on August 2, 2022, harming investors.
On December 20, 2023, DXC announced the sudden departure of its CEO and Chairman of the Board, leading to a 12.1% decrease in its stock price, which fell by $3.04 to $21.99 per share on the same day.
Then, on May 16, 2024, DXC’s new CEO revealed that previous restructuring efforts were ineffective and that the company needed an additional $250 million to complete the restructuring and integration process. This admission, coupled with the CEO’s statement that the company was “not [a] fully functional organization,” caused the stock price to drop by $3.36, or 16.9%, closing at $16.52 per share on May 17, 2024, further impacting investors.
The complaint alleges that throughout the Class Period, the Defendants made false or misleading statements and failed to disclose important negative facts about the Company’s business and prospects. Specifically, the complaint claims that Defendants did not reveal that: (1) the Company had reduced costs for restructuring and integration by slowing down its “transformation” efforts, deferring costs that would eventually be needed; and (2) as a result, Defendants’ optimistic statements about the Company’s performance and future prospects were misleading or lacked a reasonable basis.
