Investors Alert: Lawsuit Filed Against TELUS International Over Securities Fraud Allegations

Class Action Lawsuit Against TELUS International

A class action lawsuit has been filed against TELUS International (Cda) Inc. (NYSE: TIXT) by Levi & Korsinsky, LLP to represent investors who may have suffered losses due to alleged securities law violations. This legal action seeks to recover damages for those affected between February 16, 2023, and August 1, 2024.

Background of the Case

The allegations against TELUS International are serious. The complaint states that the company made misleading statements and concealed crucial information regarding its operations and financial health. Specifically, it is claimed that the firm's transition towards AI Data Solutions came at a cost, cannibalizing its more profitable segments, thereby adversely affecting the overall profitability of the company.

Additionally, the suit points out that these strategic shifts have not been adequately communicated to investors, leading to a discrepancy between the company's positive public statements and its actual performance. This discrepancy has led to a basis for the investors to claim that they were misled about the company's prospects and financial integrity.

Specific Allegations

The lawsuit outlines several key claims:
1. Cannibalization of Profitable Operations: The transition to AI solutions reportedly forced the company to sacrifice its higher-margin offerings.
2. Profitability Issues: The decline in the company's profitability was directly linked to its extensive drive in developing artificial intelligence capabilities, which was not disclosed transparently.
3. Margin Pressures: The shift towards AI has reportedly put unforeseen pressures on the company's profit margins, significantly deviating from earlier disclosures.
4. Misleading Statements: The defendants' statements made concerning TELUS International’s business health were misleading, lacking a factual basis.

Next Steps for Investors

For investors who believe they have incurred losses during this time period, it is vital to act swiftly. The deadline for requesting the Court to appoint them as lead plaintiff is March 31, 2025. However, it’s important to note that investors do not need to take on the role of lead plaintiff to participate in any potential recovery from this case.

No Cost to Participate

Class members are encouraged to join the lawsuit without any associated costs, meaning they may be entitled to compensation without any out-of-pocket expenses. Levi & Korsinsky emphasizes that there is no financial obligation or cost to participate in this class action.

Why Choose Levi & Korsinsky

Levi & Korsinsky, LLP has a proven record in securities litigation, having won hundreds of millions of dollars for affected shareholders over the past two decades. The firm has over 70 experienced professionals and has been consistently recognized as one of the top securities litigation firms in the United States.

Joseph E. Levi, Esq., and Ed Korsinsky, Esq. of Levi & Korsinsky are leading this case and are available for contact to discuss any potential claims. Interested investors can reach out via email at [email protected] or call at (212) 363-7500 for more details.

If you are among those affected by the alleged misconduct of TELUS International, you should consider your right to participate in this significant class action lawsuit, aimed at seeking justice and potential compensation for your losses.