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DXC.US
id: 1299

DXC Technology (DXC) Financial Issues Case

E.D. Virginia
Court
1:24-cv-01351
Case number
26 May 2021
Class period Start
16 May 2024
Class period End
01 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
Collecting participants…

DXC Technology Co

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 international...

    Ticker
    DXC.US
    ISIN
    US23355L1061
    CIK
    1688568
    Sector
    Technology
    Industry
    Information Technology Services
    Country
    USA
    Address
    20408 Bashan Drive, Ashburn, VA, United States, 20147