#USA #New York #Class Action #Levi & Korsinsky #Xerox Holdings

Levi & Korsinsky Launches Class Action for Xerox Shareholders

In a significant development for investors, Levi & Korsinsky, LLP has initiated a class action lawsuit on behalf of shareholders of Xerox Holdings Corporation (NASDAQ: XRX). The firm has officially notified affected investors of the potential legal action to recover losses attributed to alleged securities fraud that occurred during a specified timeframe.

Class Action Overview

The lawsuit aims to represent Xerox shareholders who believe they were adversely affected by reported fraudulent activities within the company between January 25, 2024, and October 28, 2024. During this period, the lawsuit claims that misleading statements from the company's leadership resulted in reduced company productivity and, ultimately, its revenue.

Allegations in the Lawsuit

The core of the accusations stems from the assertion that company executives made false representations which concealed critical information from investors. Specifically, the lawsuit highlights several key points:

1. Salesforce Disruption: Following a substantial workforce reduction, Xerox reorganized its salesforce, resulting in new territory assignments and disrupted account coverage.
2. Productivity Issues: This restructuring reportedly caused a decline in productivity among sales personnel.
3. Sell-Through Challenges: The reorganization also resulted in a lower rate of sell-through of older products, affecting overall sales figures.
4. Delayed Product Launches: The difficulties in removing older inventory further delayed the introduction of essential new products.
5. Reduced Sales Outlook: These factors combined to create an environment where the company was likely to experience lower sales and revenue.

As a result of these challenges, the lawsuit argues that the optimistic statements made by Xerox executives about the company's performance, operations, and future prospects were materially misleading, lacking a reasonable basis.

Next Steps for Investors

Shareholders who incurred losses during the specified time frame and seek to participate in the lawsuit must do so by January 21, 2025. This deadline is crucial for those looking to have a voice in the proceedings and potentially be appointed as the lead plaintiff. However, it’s important to note that individuals can still recover without serving as lead plaintiffs.

Cost-Free Participation

Investors considering involvement in the class action should be aware that there is no financial obligation to join. Eligible class members may receive compensation without incurring any out-of-pocket costs or fees, making this an appealing option for those affected.

Why Levi & Korsinsky?

The firm boasts a robust track record, having secured hundreds of millions of dollars for shareholders over the past two decades. With a dedicated team of over 70 professionals specializing in complex securities litigation, Levi & Korsinsky stands out among competitors, consistently earning a spot in the ISS Securities Class Action Services' Top 50 Report for several consecutive years.

Contact Information

For more details regarding the class action suit or to inquire about participation, shareholders can reach out to Joseph E. Levi, Esq. at Levi & Korsinsky via:

• - Email: [email protected]
• - Phone: (212) 363-7500

Filing a claim can be a strategic step towards recovering losses incurred as a shareholder of Xerox Holdings Corporation. It’s essential for affected parties to remain informed and proactive.

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Stay updated with all the latest developments surrounding this class action lawsuit to ensure you protect your rights as an investor.

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