DXC Technology Company
Case Overview
49 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 10/01/2024 |
Status: | Status: Investigating |
Company Name: | Company Name: DXC Technology Company |
Court: | Court: Eastern District of Virginia |
Case Number: | Case Number: 1:24cv01351 |
Class Period: | Class Period: 05/26/2021 - 05/16/2024 |
Ticker: | Ticker: DXC |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Virginia on behalf of those who acquired DXC Technology Company (“DXC” or the “Company”) (NYSE: DXC) securities during the period of May 26, 2021 through May 16, 2024 inclusive (“the Class Period”). Investors have until October 2, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that the Company made materially false and misleading statements and omissions concerning DXC's ability to integrate previously acquired companies and business systems, as well as their efforts to reduce the Company's restructuring costs. Specifically, DXC repeatedly touted the progress of its "transformation journey," and assured investors that their efforts to reduce restructuring costs were successful and were "all sustainable and a result of the operational work we are doing." As a result of these misrepresentations, the price of DXC common stock traded at artificially inflated prices throughout the Class Period. In truth, DXC knew, or recklessly disregarded, that the Company had reduced restructuring costs by curbing the Company-wide "transformation" and had thereby simply deferred costs that DXC would ultimately need to spend to finally implement the restructuring that it claimed to be successfully addressing.
The lawsuit alleges that the Company made materially false and misleading statements and omissions concerning DXC's ability to integrate previously acquired companies and business systems, as well as their efforts to reduce the Company's restructuring costs. Specifically, DXC repeatedly touted the progress of its "transformation journey," and assured investors that their efforts to reduce restructuring costs were successful and were "all sustainable and a result of the operational work we are doing." As a result of these misrepresentations, the price of DXC common stock traded at artificially inflated prices throughout the Class Period. In truth, DXC knew, or recklessly disregarded, that the Company had reduced restructuring costs by curbing the Company-wide "transformation" and had thereby simply deferred costs that DXC would ultimately need to spend to finally implement the restructuring that it claimed to be successfully addressing.