Deadline on Jan 21st coming up in Lawsuit for certain investors in Xerox Holdings Corporation (NASDAQ: XRX)

An investor, who purchased shares of Xerox Holdings Corporation (NASDAQ: XRX), filed a lawsuit over alleged violations of Federal Securities Laws by Xerox Holdings Corporation in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Xerox Holdings Corporation (NASDAQ: XRX) have certain options and for certain investors are short and strict deadlines running. Deadline: January 21, 2025. NASDAQ: XRX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

In October 2023, Xerox Holdings Corporation introduced an organizational overhaul, which it dubbed the "Reinvention".

Then, on January 3, 2024, Xerox Holdings Corporation announced the next stage of its "operating model evolution" which included shifting to a "business unit operating model," consolidating groups under a "Global Business Services organization," and a layoff of 15% of the Company's workforce.

On April 23, 2024, the effects of the Company's Reinvention began to emerge, when the Company revealed that for second quarter 2024, quarterly revenue was down 12.4% year-over-year and equipment sales declined 25.8 year-over-year. The Company admitted, in part, "geographic simplification" had driven the year-over-year decline. The Company also partially disclosed that the Reinvention plan had been "initially disruptive to sales operations" but assured investors it was "seeing the benefits of the new business unit-led operating model in equipment order momentum."

On October 29, 2024, Xerox Holdings Corporation released its third quarter 2024 financial results, missing consensus estimates and lowering guidance and attributing the performance to "the delayed global launch of two new products and lower-than-expected improvements in sales force productivity" and "to a lesser extent, delays in the implementation of certain cost reduction initiatives to 2025."

Shares of Xerox Holdings Corporation (NASDAQ: XRX) declined from $19.78 per share on January 30, 2024, to as low as $8.02 per share on October 29, 2024.

The plaintiff claims that between January 25, 2024 to October 28, 2024, the Defendants failed to disclose to investors that, after a large workforce reduction, the Company's salesforce was reorganized with new territory assignments and account coverage, that, as a result, the Company's salesforce productivity was disrupted, that, as a result, the Company had a lower rate of sell-through of older products, that the difficulties in flushing out old product would delay the launch of key products, that, as a result, Xerox was likely to experience lower sales and revenue and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Xerox Holdings Corporation (NASDAQ: XRX) 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.