{"id":1004109,"date":"2026-09-17T05:55:27","date_gmt":"2026-09-17T09:55:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/rxt-investor-reminder-rackspace-technology-securities-fraud-class-action-after-33-stock-drop-is-pending-investors-notified-to-contact-bfa-law-before-september-28-deadline\/"},"modified":"2026-09-17T05:55:27","modified_gmt":"2026-09-17T09:55:27","slug":"rxt-investor-reminder-rackspace-technology-securities-fraud-class-action-after-33-stock-drop-is-pending-investors-notified-to-contact-bfa-law-before-september-28-deadline","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rxt-investor-reminder-rackspace-technology-securities-fraud-class-action-after-33-stock-drop-is-pending-investors-notified-to-contact-bfa-law-before-september-28-deadline\/","title":{"rendered":"RXT Investor Reminder: Rackspace Technology Securities Fraud Class Action After 33% Stock Drop is Pending \u2013 Investors Notified to Contact BFA Law Before September 28 Deadline"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p>\nRXT Investor Reminder: Rackspace Technology Securities Fraud Class Action After 33% Stock Drop is Pending \u2013 Investors Notified to Contact BFA Law Before September 28 Deadline<\/p>\n<p>\nA securities fraud class action lawsuit has been filed on behalf of Rackspace investors after its stock plummeted 33.6% because Rackspace allegedly misled investors about its AI efforts and their impact on the company\u2019s financial performance.<\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nLeading securities law firm <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.bfalaw.com%2Fcases%2Frackspace-class-action-lawsuit&amp;esheet=54605700&amp;newsitemid=20260917384277&amp;lan=en-US&amp;anchor=Bleichmar+Fonti+%26amp%3B+Auld+LLP&amp;index=1&amp;md5=7355924ddf1f195adcf0090350da38b7\"><b>Bleichmar Fonti &amp; Auld LLP<\/b><\/a> announces that a class action lawsuit has been filed against Rackspace Technology, Inc. (NASDAQ:RXT) and certain of the company\u2019s senior executives for securities fraud after its significant stock drop resulting from potential violations of the federal securities laws.<\/p>\n<p>\nIf you invested in Rackspace, you are encouraged to obtain additional information by visiting: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.bfalaw.com%2Fcases%2Frackspace-class-action-lawsuit&amp;esheet=54605700&amp;newsitemid=20260917384277&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.bfalaw.com%2Fcases%2Frackspace-class-action-lawsuit&amp;index=2&amp;md5=404e74f51394642474f8c411c4477d18\"><b>https:\/\/www.bfalaw.com\/cases\/rackspace-class-action-lawsuit<\/b><\/a><b>.<\/b><\/p>\n<p><b>Key Details of the Rackspace ($RXT) Class Action:<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><b>Lead Plaintiff Deadline: <\/b>September 28, 2026\n<\/li>\n<li><b>Alleged Misconduct: <\/b>Securities fraud alleging that Rackspace misled investors about its AI efforts and their impact on the company\u2019s financial performance\n<\/li>\n<li><b>Stock Drop: <\/b>July 9, 2026 \u2013 33.6% Stock Drop\n<\/li>\n<li><b>Court: <\/b>U.S. District Court for the Southern District of New York\n<\/li>\n<li><b>Action: <\/b>Contact <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.bfalaw.com%2Fcases%2Frackspace-class-action-lawsuit&amp;esheet=54605700&amp;newsitemid=20260917384277&amp;lan=en-US&amp;anchor=BFA+Law&amp;index=3&amp;md5=f19ba27e389559d28d600d4196ce05e6\">BFA Law<\/a> to discuss your rights\n<\/li>\n<\/ul>\n<p>\nInvestors have until September 28, 2026 to ask the Court to be appointed to lead the case. The complaint asserts securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Rackspace securities. The class action is pending in the U.S. District Court for the Southern District of New York. It is captioned <i>Morgan-Reed v. Rackspace Technology, Inc.<\/i>, No. 26-cv-6491.<\/p>\n<p><b>Why is Rackspace Being Sued for Securities Fraud?<\/b><\/p>\n<p>\nRackspace is a hybrid cloud and AI solutions company that operates physical infrastructure to host cloud services and artificial intelligence. The company also provides Rackspace AI, a portfolio of AI services to help organizations scale AI adoption.<\/p>\n<p>\nDuring the relevant period, the company announced it signed a memorandum of understanding with Advanced Micro Devices, Inc. (\u201cAMD\u201d) to assist in building out its AI infrastructure and enhance its AI capabilities. That same day, the company reaffirmed its full year revenue guidance.<\/p>\n<p>\nRackspace told investors that the \u201cAMD piece really fits<b><i \/><\/b>into how\u201d the company\u2019s technology stack operates. Rackspace also stated that the AMD partnership \u201cgive[s] [the Company] confidence in the full year Private Cloud growth profile.\u201d<\/p>\n<p>\nAs alleged, in truth, the company\u2019s AI efforts would require Rackspace to significantly re-prioritize its capacity and pull capacity away from revenue generating segments.<\/p>\n<p><b>Why did Rackspace\u2019s Stock Drop?<\/b><\/p>\n<p>\nOn July 9, 2026, Rackspace revealed that its AI investments would require a significant re-prioritization of resources and a \u201ctransition away\u201d from certain revenue generating segments. As a result, Rackspace revealed it was cutting its full year 2026 revenue guidance by $150 million and its full year Private Cloud revenue outlook by $25 million.<\/p>\n<p>\nThis news caused the price of Rackspace stock to decline $2.21 per share, or 33.6%, from a closing price of $6.58 per share on July 8, 2026, to $4.37 per share on July 9, 2026.<\/p>\n<p><b>Click here for more information: <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.bfalaw.com%2Fcases%2Frackspace-class-action-lawsuit&amp;esheet=54605700&amp;newsitemid=20260917384277&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.bfalaw.com%2Fcases%2Frackspace-class-action-lawsuit&amp;index=4&amp;md5=511b65cf3c12096f0e1260af2f0d9038\"><b>https:\/\/www.bfalaw.com\/cases\/rackspace-class-action-lawsuit<\/b><\/a><b>.<\/b><\/p>\n<p><b>What Can You Do?<\/b><\/p>\n<p>\nIf you invested in Rackspace, you may have legal options and are encouraged to submit your information to the firm.<\/p>\n<p>\nAll representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.<\/p>\n<p><b>Submit your information by visiting:<\/b><\/p>\n<p class=\"bwalignc\"><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.bfalaw.com%2Fcases%2Frackspace-class-action-lawsuit&amp;esheet=54605700&amp;newsitemid=20260917384277&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.bfalaw.com%2Fcases%2Frackspace-class-action-lawsuit&amp;index=5&amp;md5=f78fa1f910b4577edc65f4c7dd10e5fd\"><b>https:\/\/www.bfalaw.com\/cases\/rackspace-class-action-lawsuit<\/b><\/a><\/p>\n<p>\nOr contact:<br \/>\n<br \/>Adam McCall<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:adam@bfalaw.com\">adam@bfalaw.com<br \/>\n<\/a><br \/>212.789.3619<\/p>\n<p><b>Why Bleichmar Fonti &amp; Auld LLP?<\/b><\/p>\n<p>\nBFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by <i>Chambers USA<\/i>, <i>The Legal 500<\/i>, and <i>ISS SCAS<\/i>, and its attorneys have been named \u201cElite Trial Lawyers\u201d by the <i>National Law Journal<\/i>, \u201cLitigation Stars\u201d by <i>Benchmark Litigation<\/i>, among the top \u201c500 Leading Plaintiff Financial Lawyers\u201d by <i>Lawdragon<\/i>, \u201cTitans of the Plaintiffs\u2019 Bar\u201d by <i>Law360<\/i> and \u201cSuperLawyers\u201d by Thomson Reuters.<\/p>\n<p>\nMost recently, <i>The Legal 500 <\/i>awarded BFA the most client satisfaction accolades of any plaintiff\u2019s securities litigation law firm, with clients noting: \u201c[t]here is no better service provider in the practice area,\u201d \u201c[t]he interest of the client is always front and center,\u201d and \u201c[t]here isn\u2019t a better firm in this space.\u201d One testimonial described the firm as \u201cnimble and entrepreneurial,\u201d with a \u201crelentless focus on adding value for clients.\u201d<\/p>\n<p>\nAmong its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.\u2019s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.<\/p>\n<p>\nFor more information about BFA and its attorneys, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.bfalaw.com&amp;esheet=54605700&amp;newsitemid=20260917384277&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.bfalaw.com&amp;index=6&amp;md5=942fa2b9333c59d9995e1a674e4c7730\">https:\/\/www.bfalaw.com<\/a>.<\/p>\n<p class=\"bwalignc\"><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.bfalaw.com%2Fcases%2Frackspace-class-action-lawsuit&amp;esheet=54605700&amp;newsitemid=20260917384277&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.bfalaw.com%2Fcases%2Frackspace-class-action-lawsuit&amp;index=7&amp;md5=085a8128b95c304417cc0b05578c1177\"><b>https:\/\/www.bfalaw.com\/cases\/rackspace-class-action-lawsuit<\/b><\/a><\/p>\n<p><i>Attorney advertising. Past results do not guarantee future outcomes.<\/i><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260917384277r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20260917384277\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20260917384277\/en\/<\/a><\/span><\/p>\n<p>\nAdam McCall<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:adam@bfalaw.com\">adam@bfalaw.com<br \/>\n<\/a><br \/>212.789.3619<\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Class Action Lawsuit Professional Services Legal<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20260917384277\/en\/2903265\/3\/BFA_Law_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>RXT Investor Reminder: Rackspace Technology Securities Fraud Class Action After 33% Stock Drop is Pending \u2013 Investors Notified to Contact BFA Law Before September 28 Deadline A securities fraud class action lawsuit has been filed on behalf of Rackspace investors after its stock plummeted 33.6% because Rackspace allegedly misled investors about its AI efforts and their impact on the company\u2019s financial performance. NEW YORK&#8211;(BUSINESS WIRE)&#8211; Leading securities law firm Bleichmar Fonti &amp; Auld LLP announces that a class action lawsuit has been filed against Rackspace Technology, Inc. (NASDAQ:RXT) and certain of the company\u2019s senior executives for securities fraud after its significant stock drop resulting from potential violations of the federal securities laws. If you invested in Rackspace, you are encouraged &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rxt-investor-reminder-rackspace-technology-securities-fraud-class-action-after-33-stock-drop-is-pending-investors-notified-to-contact-bfa-law-before-september-28-deadline\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;RXT Investor Reminder: Rackspace Technology Securities Fraud Class Action After 33% Stock Drop is Pending \u2013 Investors Notified to Contact BFA Law Before September 28 Deadline&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1004109","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RXT Investor Reminder: Rackspace Technology Securities Fraud Class Action After 33% Stock Drop is Pending \u2013 Investors Notified to Contact BFA Law Before September 28 Deadline - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rxt-investor-reminder-rackspace-technology-securities-fraud-class-action-after-33-stock-drop-is-pending-investors-notified-to-contact-bfa-law-before-september-28-deadline\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RXT Investor Reminder: Rackspace Technology Securities Fraud Class Action After 33% Stock Drop is Pending \u2013 Investors Notified to Contact BFA Law Before September 28 Deadline - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"RXT Investor Reminder: Rackspace Technology Securities Fraud Class Action After 33% Stock Drop is Pending \u2013 Investors Notified to Contact BFA Law Before September 28 Deadline A securities fraud class action lawsuit has been filed on behalf of Rackspace investors after its stock plummeted 33.6% because Rackspace allegedly misled investors about its AI efforts and their impact on the company\u2019s financial performance. NEW YORK&#8211;(BUSINESS WIRE)&#8211; Leading securities law firm Bleichmar Fonti &amp; Auld LLP announces that a class action lawsuit has been filed against Rackspace Technology, Inc. (NASDAQ:RXT) and certain of the company\u2019s senior executives for securities fraud after its significant stock drop resulting from potential violations of the federal securities laws. If you invested in Rackspace, you are encouraged &hellip; Continue reading &quot;RXT Investor Reminder: Rackspace Technology Securities Fraud Class Action After 33% Stock Drop is Pending \u2013 Investors Notified to Contact BFA Law Before September 28 Deadline&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/rxt-investor-reminder-rackspace-technology-securities-fraud-class-action-after-33-stock-drop-is-pending-investors-notified-to-contact-bfa-law-before-september-28-deadline\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-09-17T09:55:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260917384277r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rxt-investor-reminder-rackspace-technology-securities-fraud-class-action-after-33-stock-drop-is-pending-investors-notified-to-contact-bfa-law-before-september-28-deadline\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rxt-investor-reminder-rackspace-technology-securities-fraud-class-action-after-33-stock-drop-is-pending-investors-notified-to-contact-bfa-law-before-september-28-deadline\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"RXT Investor Reminder: Rackspace Technology Securities Fraud Class Action After 33% Stock Drop is Pending \u2013 Investors Notified to Contact BFA Law Before September 28 Deadline\",\"datePublished\":\"2026-09-17T09:55:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rxt-investor-reminder-rackspace-technology-securities-fraud-class-action-after-33-stock-drop-is-pending-investors-notified-to-contact-bfa-law-before-september-28-deadline\\\/\"},\"wordCount\":848,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rxt-investor-reminder-rackspace-technology-securities-fraud-class-action-after-33-stock-drop-is-pending-investors-notified-to-contact-bfa-law-before-september-28-deadline\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20260917384277r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rxt-investor-reminder-rackspace-technology-securities-fraud-class-action-after-33-stock-drop-is-pending-investors-notified-to-contact-bfa-law-before-september-28-deadline\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rxt-investor-reminder-rackspace-technology-securities-fraud-class-action-after-33-stock-drop-is-pending-investors-notified-to-contact-bfa-law-before-september-28-deadline\\\/\",\"name\":\"RXT Investor Reminder: Rackspace Technology Securities Fraud Class Action After 33% Stock Drop is Pending \u2013 Investors Notified to Contact BFA Law Before September 28 Deadline - 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NEW YORK&#8211;(BUSINESS WIRE)&#8211; Leading securities law firm Bleichmar Fonti &amp; Auld LLP announces that a class action lawsuit has been filed against Rackspace Technology, Inc. (NASDAQ:RXT) and certain of the company\u2019s senior executives for securities fraud after its significant stock drop resulting from potential violations of the federal securities laws. 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