#United States #New York #Class Action #Xerox Holdings #Faruqi & Faruqi

Important Update for Xerox Investors

Faruqi & Faruqi, LLP, a prominent national securities law firm, has issued a reminder to investors concerning an ongoing class action lawsuit against Xerox Holdings Corporation (NASDAQ: XRX). The firm is investigating potential claims related to the company's actions and is urging those who incurred losses of more than $75,000 between January 25, 2024, and October 28, 2024, to consider their legal options ahead of a critical deadline.

Background of the Case

The deadline for investors to seek the role of lead plaintiff in this federal securities class action is set for January 21, 2025. The lawsuit centers around allegations that Xerox and its senior management misled investors by providing false statements and omissions regarding the company’s operations, particularly after a significant workforce reduction. The claims suggest that the reorganization of the sales force led to reduced productivity, delayed product launches, and ultimately, lower revenue.

What Investors Should Know

On April 23, 2024, Xerox announced a significant decline in revenue by 12.4% year-over-year, amounting to $1.50 billion, alongside a net loss increase to $113 million. The company's explanation for this downturn pointed to challenges arising from strategic changes in its sales organization, which had initially disrupted operations. Shareholders reacted negatively, leading to a 10.11% drop in stock price to $14.76.

Further, in a subsequent release on October 29, 2024, the company reported continued struggles, stating that sales performance had been below expectations due to ongoing productivity issues and delays in product launches. These challenges contributed to an additional net loss of $1.2 billion for the third quarter. The revelations left investors concerned about their investments, causing the value of Xerox shares to plummet further, closing at $8.49, a staggering decline of 17.41%.

Steps for Affected Investors

Faruqi & Faruqi emphasizes that the lead plaintiff is typically the individual with the highest financial stake in the case and who can adequately represent the interests of the entire class. Anyone interested in taking action must submit a motion to the Court, either through legal counsel or independently. It’s important to note that all class members, regardless of whether they wish to serve as lead plaintiffs, have the right to participate in any settlement or recovery.

The firm also welcomes information from potential whistleblowers, former employees, and other stakeholders who may have insights into Xerox's internal processes and decisions.

Conclusion

In light of these developments, affected investors should act quickly to protect their rights. For further information or to discuss your specific situation, reach out to Faruqi & Faruqi partner Josh Wilson at 877-247-4292 or visit Faruqi & Faruqi's official website. Keeping abreast of the situation is crucial for investors seeking to take part in the lawsuit. As updates continue to emerge, staying informed will empower investors to make the best decisions regarding their portfolios.

_Faruqi & Faruqi, LLP is a recognized leader in securities litigation, known for advocating on behalf of investors and recovering billions in damages since its inception._