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DXC.US
id: 1299
DXC Technology (DXC) Financial Issues Case
E.D. Virginia
Court1:24-cv-01351
Case number26 May 2021
Class period Start16 May 2024
Class period End01 Oct 2024
Lead Plaintiff motion deadline- $DXC stockholder filed a claim against DXC Technology for misrepresenting its integration success by focusing on reducing restructuring and TSI costs.
- After the news about financial results on May 16, 2024, $DXC fell by 17%.
- DXC investors can join this case to be notified about potential recovery.
Case Details:
On August 3, 2022, DXC reported disappointing first-quarter results, citing slower-than-expected cost optimization efforts.
After this news, $DXC declined by 17%.
On May 16, 2024, DXC's CEO admitted that previous restructurings failed to integrate acquired systems, leaving the company as a "not fully functional organization." DXC also announced it needed another $250 million for proper integration.
After that, $DXC fell by 17%.
Based on these events, a $DXC stockholder filed a claim against DXC Technology and its leaders, accusing them of the following:
- DXC misrepresented its integration efforts and success, focusing on reducing restructuring and TSI costs.
- DXC limited integration to achieve these reductions.
Considering all the representations, investors suspect DXC misrepresented its integration success by focusing on reducing restructuring and TSI costs.
Case Status
Lead Plaintiff Submission
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
16 May 2024
Filing date
02 August 2024
Lead Plaintiff Deadline
01 October 2024