{"id":990430,"date":"2026-08-05T14:51:09","date_gmt":"2026-08-05T18:51:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/rackspace-technology-inc-securities-fraud-class-action-lawsuit-filed-september-28-2026-lead-plaintiff-deadline\/"},"modified":"2026-08-05T14:51:09","modified_gmt":"2026-08-05T18:51:09","slug":"rackspace-technology-inc-securities-fraud-class-action-lawsuit-filed-september-28-2026-lead-plaintiff-deadline","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rackspace-technology-inc-securities-fraud-class-action-lawsuit-filed-september-28-2026-lead-plaintiff-deadline\/","title":{"rendered":"Rackspace Technology, Inc. Securities Fraud Class Action Lawsuit Filed; September 28, 2026, Lead Plaintiff Deadline"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <b>Did you buy <\/b><br \/>\n        <b>RXT <\/b><br \/>\n        <b>securities between May 7, 2026 and July 8, 2026?<\/b>\n      <\/p>\n<p>\n        <b>Affected RXT Investor Summary<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>Who:<\/b>\u00a0Rackspace Technology, Inc. (<a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4746518-1&amp;h=3182403274&amp;u=https%3A%2F%2Fwww.benzinga.com%2Fquote%2FRXT&amp;a=NASDAQ%3A+RXT\" target=\"_blank\" rel=\"nofollow\">NASDAQ: RXT<\/a>)<\/li>\n<li>\n          <b>What:<\/b>\u00a0Securities <span>fraud<\/span> class action lawsuit filed<\/li>\n<li>\n          <b>Class Period:<\/b>\u00a0May 7, 2026 through July 8, 2026<\/li>\n<li>\n          <b>Deadline to Seek Lead Plaintiff Status:<\/b>\u00a0September 28, 2026<\/li>\n<li>\n          <b>Key Lawsuit Allegations:<\/b> Material misstatements and\/or omissions concerning the company&#8217;s enterprise AI efforts.<\/li>\n<li>\n          <b>Investor Action: <\/b>Contact <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4746518-1&amp;h=2440864592&amp;u=https%3A%2F%2Fwww.ktmc.com%2Frxt-rackspace-technology-inc-class-action-lawsuit%3Futm_source%3DPR_Newswire%26utm_medium%3Dpressrelease%26utm_campaign%3Drxt%26mktm%3DPR&amp;a=Kessler+Topaz+Meltzer+%26+Check%2C+LLP+(www.ktmc.com\" target=\"_blank\" rel=\"nofollow\">Kessler Topaz Meltzer &amp; Check, LLP (www.ktmc.com<\/a>) for recovery options<\/li>\n<\/ul>\n<p>\n        <span class=\"legendSpanClass\">RADNOR, Pa.<\/span>, <span class=\"legendSpanClass\">Aug. 5, 2026<\/span> \/PRNewswire\/ &#8212; Kessler Topaz Meltzer &amp; Check, LLP (<a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4746518-1&amp;h=3671884016&amp;u=http%3A%2F%2Fwww.ktmc.com%2F&amp;a=www.ktmc.com\" target=\"_blank\" rel=\"nofollow\">www.ktmc.com<\/a><u>)<\/u>, a nationally recognized securities litigation law firm,\u00a0informs investors that a securities <span>fraud<\/span> class action lawsuit has been filed against\u00a0Rackspace Technology, Inc. (Rackspace) (NASDAQ: RXT) on behalf of those who purchased or acquired Rackspace securities between May 7, 2026 and July 8, 2026, inclusive.\u00a0The lawsuit is filed in the United States District Court for the Southern District of New York and is captioned <i>Morgan-Reed v. Rackspace Technology, Inc.<\/i>, No. 1:26-cv-06491 (S.D.N.Y.). <b>Investors have until September 28, 2026, to file for lead plaintiff status.<\/b><\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <img decoding=\"async\" src=\"https:\/\/mmx.prnewswire.com\/media\/MS669377\/Kessler-Topaz-Meltzer-and-Check-Logo.jpg?id=OA2826926\" title=\"KTMC Icon\" alt=\"KTMC Icon\" \/>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b><br \/>\n          <u>CONTACT KTMC TO DISCUSS YOUR LEGAL RIGHTS:<br \/><\/u><br \/>\n        <\/b>If you purchased or acquired Rackspace securities and have lost money on your investment, please provide your information here: <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4746518-1&amp;h=4140378878&amp;u=https%3A%2F%2Fwww.ktmc.com%2Frxt-rackspace-technology-inc-class-action-lawsuit%3Futm_source%3DPR_Newswire%26utm_medium%3Dpressrelease%26utm_campaign%3Drxt%26mktm%3DPR&amp;a=https%3A%2F%2Fwww.ktmc.com%2Frxt-rackspace-technology-inc-class-action-lawsuit%3Futm_source%3DPR_Newswire%26utm_medium%3Dpressrelease%26utm_campaign%3Drxt%26mktm%3DPR\" target=\"_blank\" rel=\"nofollow\">https:\/\/www.ktmc.com\/rxt-rackspace-technology-inc-class-action-lawsuit?utm_source=PR_Newswire&amp;utm_medium=pressrelease&amp;utm_campaign=rxt&amp;mktm=PR<\/a><\/p>\n<p>\n        <b>You can also contact attorney <\/b><br \/>\n        <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4746518-1&amp;h=1967541896&amp;u=https%3A%2F%2Fktmc.com%2Fpeople%2Fjon-naji&amp;a=Jonathan+Naji%2C+Esq.\" target=\"_blank\" rel=\"nofollow\"><br \/>\n          <b>Jonathan Naji, Esq.<\/b><br \/>\n        <\/a>\u00a0<b>by calling (484) 270-1453 or by email at <\/b><a href=\"mailto:info@ktmc.com\" target=\"_blank\" rel=\"nofollow\"><b>info@ktmc.com<\/b><\/a><b>.<\/b> There is no cost or obligation to speak with an attorney.<\/p>\n<p>\n        <b><br \/>\n          <u>RACKSPACE TECHNOLOGY, INC.<\/u><br \/>\n        <\/b>\u00a0<b><u>CLASS ACTION LAWSUIT &#8211; COMPLAINT ALLEGATION SUMMARY:<br \/><\/u><\/b>The complaint <span>alleges<\/span> that, throughout the Class Period, Defendants made materially false and\/or misleading statements, and\/or failed to disclose material adverse facts about the company&#8217;s business, operations, and prospects. Specifically, Defendants misrepresented and\/or failed to disclose that: (1)\u00a0Rackspace&#8217;s enterprise AI efforts would require the company to significantly re-prioritize its capacity and capital away from the profitable Private Cloud segment; (2) Rackspace&#8217;s Public Cloud revenue was declining as customers contracted directly with hyperscale cloud platforms; (3) as a result, Rackspace was likely to significantly reduce a material portion of its Public Cloud infrastructure resale business; (4) consequently, Rackspace&#8217;s fiscal year 2026 revenue would be significantly impacted; and (5) as a result of the foregoing, Defendants&#8217; positive statements about the company&#8217;s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n<p>\n        <b>Why did Rackspace&#8217;s Stock Drop?<br \/><\/b>On July 9, 2026, before the market opened, Rackspace published its second quarter 2026 financial results and disclosed &#8220;a strategic and financial update on its transition to becoming the operator of the full enterprise AI stack.&#8221; Specifically, Rackspace revealed that its AI investments would require a significant re-prioritization of resources and, as a result, reduced its full year 2026 revenue guidance by $150 million. Rackspace also cut its full year 2026 Private Cloud revenue outlook by $25 million and explained that &#8220;[l]ower near-term margins reflect upfront growth investment and restructuring, ahead of AI revenue ramping.&#8221;<\/p>\n<p>On this news, Rackspace&#8217;s stock price fell $2.21 per share, or 33.6%, to close at $4.37 per share on July 9, 2026.<\/p>\n<p>\n        <b><br \/>\n          <u>WHAT RACKSPACE TECHNOLOGY, INC. INVESTORS CAN DO NOW:<\/u><br \/>\n        <\/b>\n      <\/p>\n<ol type=\"1\">\n<li>File to be lead plaintiff by September 28, 2026.<\/li>\n<li>Contact KTMC for a free case evaluation. All representation is on a contingency fee basis, there is no cost to you.<\/li>\n<li>Retain counsel of choice or take no action.<\/li>\n<\/ol>\n<p>\n        <b><br \/>\n          <u>THE LEAD PLAINTIFF PROCESS FOR RACKSPACE TECHNOLOGY, INC. INVESTORS:<br \/><\/u><br \/>\n        <\/b>Rackspace\u00a0investors may, <b><i><u>no later than September 28, 2026,<\/u><\/i><\/b>\u00a0seek to be appointed as a lead plaintiff representative of the class through <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4746518-1&amp;h=1879712129&amp;u=https%3A%2F%2Fwww.ktmc.com%2Frxt-rackspace-technology-inc-class-action-lawsuit%3Futm_source%3DPR_Newswire%26utm_medium%3Dpressrelease%26utm_campaign%3Drxt%26mktm%3DPR&amp;a=Kessler+Topaz+Meltzer+%26+Check%2C+LLP\" target=\"_blank\" rel=\"nofollow\">Kessler Topaz Meltzer &amp; Check, LLP<\/a> or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.<\/p>\n<p>\n        <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4746518-1&amp;h=490537397&amp;u=https%3A%2F%2Fwww.ktmc.com%2F&amp;a=Kessler+Topaz+Meltzer+%26+Check%2C+LLP\" target=\"_blank\" rel=\"nofollow\">Kessler Topaz Meltzer &amp; Check, LLP<\/a>\u00a0encourages Rackspace investors to contact the firm for more information.<\/p>\n<p>\n        <b><br \/>\n          <u>ABOUT KESSLER TOPAZ MELTZER &amp; CHECK, LLP (KTMC):<br \/><\/u><br \/>\n        <\/b>Kessler Topaz Meltzer &amp; Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-<span>fraud<\/span> class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including being recognized in <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4746518-1&amp;h=308656878&amp;u=https%3A%2F%2Fwww.ktmc.com%2Fnews%2Fktmc-recognized-as-a-band-1-firm-in-chambers-usa-2026%2F&amp;a=Chambers+%26+Partners+USA+2026+as+a+Band+1+Top+Firm\" target=\"_blank\" rel=\"nofollow\">Chambers &amp; Partners USA 2026 as a Band 1 Top Firm<\/a>\u00a0in Securities and Class Actions, <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4746518-1&amp;h=1293069039&amp;u=https%3A%2F%2Fwww.ktmc.com%2Fnews%2Fktmc-earns-tier-1-rankings-in-legal-500-united-states-2026%2F&amp;a=Legal+500%27s+Tier+1+Rankings+for+Securities+and+M%26A+Litigation\" target=\"_blank\" rel=\"nofollow\">Legal 500&#8217;s Tier 1 Rankings for Securities and M&amp;A Litigation<\/a>, The National Law Journal&#8217;s Plaintiff&#8217;s Hot List and Trailblazers in Plaintiffs&#8217; Law, BTI Consulting Group&#8217;s Honor Roll of Most Feared Law Firms, The Legal Intelligencer&#8217;s <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4746518-1&amp;h=1864464787&amp;u=https%3A%2F%2Fwww.ktmc.com%2Fnews%2Fktmc-named-2026-class-action-litigation-firm-of-the-year%2F&amp;a=Class+Action+Firm+of+the+Year\" target=\"_blank\" rel=\"nofollow\">Class Action Firm of the Year<\/a>, Lawdragon&#8217;s Leading Plaintiff Financial Lawyers, and Law360&#8217;s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent. The complaint in this matter was not filed by\u00a0KTMC.<\/p>\n<p>\n        <b>CONTACT:<br \/><\/b>Jonathan Naji, Esq.<br \/>(484) 270-1453<br \/>280 King of Prussia Road<br \/>Radnor, PA 19087<br \/><a href=\"mailto:info@ktmc.com\" target=\"_blank\" rel=\"nofollow\">info@ktmc.com<\/a>\u00a0<\/p>\n<p>May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/edge.prnewswire.com\/c\/img\/favicon.png?sn=DC20019&amp;sd=2026-08-05\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/rackspace-technology-inc-securities-fraud-class-action-lawsuit-filed-september-28-2026-lead-plaintiff-deadline-302843976.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/rackspace-technology-inc-securities-fraud-class-action-lawsuit-filed-september-28-2026-lead-plaintiff-deadline-302843976.html<\/a><\/p>\n<p>SOURCE Kessler Topaz Meltzer &amp; Check, LLP<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DC20019&amp;Transmission_Id=202608051448PR_NEWS_USPR_____DC20019&amp;DateId=20260805\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Did you buy RXT securities between May 7, 2026 and July 8, 2026? Affected RXT Investor Summary Who:\u00a0Rackspace Technology, Inc. (NASDAQ: RXT) What:\u00a0Securities fraud class action lawsuit filed Class Period:\u00a0May 7, 2026 through July 8, 2026 Deadline to Seek Lead Plaintiff Status:\u00a0September 28, 2026 Key Lawsuit Allegations: Material misstatements and\/or omissions concerning the company&#8217;s enterprise AI efforts. Investor Action: Contact Kessler Topaz Meltzer &amp; Check, LLP (www.ktmc.com) for recovery options RADNOR, Pa., Aug. 5, 2026 \/PRNewswire\/ &#8212; Kessler Topaz Meltzer &amp; Check, LLP (www.ktmc.com), a nationally recognized securities litigation law firm,\u00a0informs investors that a securities fraud class action lawsuit has been filed against\u00a0Rackspace Technology, Inc. (Rackspace) (NASDAQ: RXT) on behalf of those who purchased or acquired Rackspace securities &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rackspace-technology-inc-securities-fraud-class-action-lawsuit-filed-september-28-2026-lead-plaintiff-deadline\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Rackspace Technology, Inc. Securities Fraud Class Action Lawsuit Filed; September 28, 2026, Lead Plaintiff 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-990430","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rackspace Technology, Inc. Securities Fraud Class Action Lawsuit Filed; September 28, 2026, Lead Plaintiff 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\/rackspace-technology-inc-securities-fraud-class-action-lawsuit-filed-september-28-2026-lead-plaintiff-deadline\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rackspace Technology, Inc. Securities Fraud Class Action Lawsuit Filed; September 28, 2026, Lead Plaintiff Deadline - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Did you buy RXT securities between May 7, 2026 and July 8, 2026? Affected RXT Investor Summary Who:\u00a0Rackspace Technology, Inc. (NASDAQ: RXT) What:\u00a0Securities fraud class action lawsuit filed Class Period:\u00a0May 7, 2026 through July 8, 2026 Deadline to Seek Lead Plaintiff Status:\u00a0September 28, 2026 Key Lawsuit Allegations: Material misstatements and\/or omissions concerning the company&#8217;s enterprise AI efforts. Investor Action: Contact Kessler Topaz Meltzer &amp; Check, LLP (www.ktmc.com) for recovery options RADNOR, Pa., Aug. 5, 2026 \/PRNewswire\/ &#8212; Kessler Topaz Meltzer &amp; Check, LLP (www.ktmc.com), a nationally recognized securities litigation law firm,\u00a0informs investors that a securities fraud class action lawsuit has been filed against\u00a0Rackspace Technology, Inc. (Rackspace) (NASDAQ: RXT) on behalf of those who purchased or acquired Rackspace securities &hellip; Continue reading &quot;Rackspace Technology, Inc. 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Securities Fraud Class Action Lawsuit Filed; September 28, 2026, Lead Plaintiff Deadline - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/rackspace-technology-inc-securities-fraud-class-action-lawsuit-filed-september-28-2026-lead-plaintiff-deadline\/","og_locale":"en_US","og_type":"article","og_title":"Rackspace Technology, Inc. Securities Fraud Class Action Lawsuit Filed; September 28, 2026, Lead Plaintiff Deadline - Market Newsdesk","og_description":"PR Newswire Did you buy RXT securities between May 7, 2026 and July 8, 2026? Affected RXT Investor Summary Who:\u00a0Rackspace Technology, Inc. (NASDAQ: RXT) What:\u00a0Securities fraud class action lawsuit filed Class Period:\u00a0May 7, 2026 through July 8, 2026 Deadline to Seek Lead Plaintiff Status:\u00a0September 28, 2026 Key Lawsuit Allegations: Material misstatements and\/or omissions concerning the company&#8217;s enterprise AI efforts. Investor Action: Contact Kessler Topaz Meltzer &amp; Check, LLP (www.ktmc.com) for recovery options RADNOR, Pa., Aug. 5, 2026 \/PRNewswire\/ &#8212; Kessler Topaz Meltzer &amp; Check, LLP (www.ktmc.com), a nationally recognized securities litigation law firm,\u00a0informs investors that a securities fraud class action lawsuit has been filed against\u00a0Rackspace Technology, Inc. (Rackspace) (NASDAQ: RXT) on behalf of those who purchased or acquired Rackspace securities &hellip; Continue reading \"Rackspace Technology, Inc. Securities Fraud Class Action Lawsuit Filed; September 28, 2026, Lead Plaintiff Deadline\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/rackspace-technology-inc-securities-fraud-class-action-lawsuit-filed-september-28-2026-lead-plaintiff-deadline\/","og_site_name":"Market Newsdesk","article_published_time":"2026-08-05T18:51:09+00:00","og_image":[{"url":"https:\/\/mmx.prnewswire.com\/media\/MS669377\/Kessler-Topaz-Meltzer-and-Check-Logo.jpg?id=OA2826926","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rackspace-technology-inc-securities-fraud-class-action-lawsuit-filed-september-28-2026-lead-plaintiff-deadline\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rackspace-technology-inc-securities-fraud-class-action-lawsuit-filed-september-28-2026-lead-plaintiff-deadline\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Rackspace Technology, Inc. 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