Robbins LLP reminds investors that a securities class action has been filed against Rackspace Technology, Inc. on behalf of purchasers of Rackspace securities between May 7, 2026 and July 8, 2026. The lawsuit alleges that Rackspace made materially false or misleading statements by failing 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 as customers contracted directly with hyperscale cloud platforms, and that the company was likely to significantly reduce a material portion of its Public Cloud infrastructure resale business. On July 9, 2026, Rackspace disclosed second quarter 2026 financial results and reduced its full year 2026 revenue guidance by $150 million, cut its full year 2026 Private Cloud revenue outlook by $25 million, and noted lower near-term margins ahead of AI revenue ramping, causing its stock price to fall $2.21, or 33.6%, to close at $4.37 per share. Investors who suffered losses during the class period may be eligible to participate and should contact Robbins LLP for information about becoming lead plaintiff.
Rackspace Technology IncSecurities class action and reduced guidance causing 33.6% stock drop
Advanced Micro Devices Inc