Rackspace Technology, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to email@example.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 firstname.lastname@example.org.
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Portnoy Law Firm
Lesley F. Portnoy, Esq.,
1800 Century Park East, Suite 600
Los Angeles, CA 90067
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.