Lawsuit filed for Investors who lost money with shares of DXC Technology Company (NYSE: DXC)

An investor, who purchased shares of DXC Technology Company (NYSE: DXC), filed a lawsuit over alleged violations of Federal Securities Laws by DXC Technology Company in connection with certain allegedly false and misleading statements.

Investors who purchased shares of DXC Technology Company (NYSE: DXC) have certain options and for certain investors are short and strict deadlines running. Deadline: October 1, 2024. NYSE: DXC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Ashburn, VA based DXC Technology Company, together with its subsidiaries, provides information technology services and solutions in the United States, the United Kingdom, rest of Europe, Australia, and internationally. DXC Technology Company reported that its Total Revenue declined from over $14.43 billion for the 12 months period that ended on March 31, 2023, to over $13.66 billion for the 12 months period that ended on March 31, 2024, and that its Net Loss of $568 million for the 12 months period that ended on March 31, 2023 turned to a Net Income of $91 million for the 12 months period that ended on March 31, 2024.

On August 3, 2022, DXC released disappointing financial results for the first quarter of fiscal year 2023, attributing it to "cost optimization efforts [moving] at a slower pace than anticipated."

Then, on December 20, 2023, DXC announced that sudden departure of its CEO and Chairman of the Board.

Then, on May 16, 2024, DXC's new CEO stated that "the previous restructurings did not set a real, clean, solid, fully integrated baseline for profitable growth" because the systems that were acquired over time were "never integrated, never deduped," and admitted that the Company was "not [a] fully functional organization." Additionally, the Company disclosed that it would need to spend an additional $250 million to achieve the restructuring and integration process that it had previously claimed to have been successfully implementing.

Shares of DXC Technology Company (NYSE: DXC) declined from $35.96 per share on May 27, 2022, to as low as $14.79 per share on May 30, 2024.

The plaintiff claims that between May 26, 2021 and May 16, 2024, the Company misrepresented its ongoing "transformation journey" and the Company's ability to integrate previously acquired companies and business systems and that Defendants knew or recklessly disregarded that the Company was only able to reduce its restructuring and TSI costs by limiting its integration efforts. The Complaint further alleges that as a result of Defendants' misrepresentations, shares of DXC common stock traded at artificially inflated prices between May 26, 2021 and May 16, 2024.

Those who purchased shares of DXC Technology Company (NYSE: DXC) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.