Glancy Prongay Wolke & Rotter LLP reminds investors of the September 28, 2026 deadline to file a lead plaintiff motion in a class action lawsuit against Rackspace Technology, Inc. The lawsuit covers investors who purchased Rackspace securities between May 7, 2026 and July 8, 2026. The complaint alleges the company made false and misleading statements and failed to disclose that its enterprise AI efforts would require significant re-prioritization of capacity and capital away from the profitable Private Cloud segment, that Public Cloud revenue was declining, and that fiscal year 2026 revenue would be significantly impacted. On July 9, 2026, Rackspace reduced its full year 2026 revenue guidance by $150 million and cut its Private Cloud revenue outlook by $25 million, causing the stock to fall 33.6% to $4.37 per share.
Rackspace Technology IncCompany reduced FY2026 revenue guidance by $150M and cut Private Cloud outlook, causing stock to fall 33.6%.
