#United States #New York #Levi & Korsinsky #TELUS International #TIXT

Overview of the Class Action for TELUS International Investors

Levi & Korsinsky, LLP recently announced an important class action lawsuit designed to protect the interests of TELUS International (Cda) Inc. shareholders, trading under the ticker symbol TIXT. This legal action comes in response to serious allegations of securities fraud occurring over a significant period. Investors who held shares in the company between February 16, 2023, and August 1, 2024, may be eligible to participate in this class action.

What Led to the Lawsuit?

The lawsuit specifically targets the alleged fraud perpetrated by the company's executives, claiming they made misleading statements regarding TELUS International's operations and financial health. According to the complaint, crucial pieces of information were either hidden or misrepresented. The primary allegations include:
1. Cannibalization of Offerings: The company’s AI Data Solutions were reportedly launched at the expense of its higher-margin services, contradicting prior statements about profitability and growth.
2. Declining Profitability: The lawsuit claims that TELUS International's declining profitability was intricately linked to its ambitious plan to develop AI capabilities, which had not been disclosed adequately to shareholders.
3. Increased Margin Pressure: It is further alleged that the drive towards AI development exerted greater pressure on the company's profit margins than previously communicated, leading to a misleading portrayal of financial stability.
4. Misleading Statements: As a consequence of all the aforementioned points, the lawsuit asserts that the positivity echoed in the company's public statements about its business, operations, and future prospects lacked a reliable basis and were misleading.

What Should Affected Investors Do?

The law firm encourages affected investors to act promptly, as the deadline to request that the Court appoint them as lead plaintiff is March 31, 2025. It's important to note that participating in the class action does not require shareholders to serve as lead plaintiff to benefit from any potential recovery.

No Costs to Participate

One of the most compelling aspects of this class action is that it comes at no out-of-pocket cost for the members involved. These investors may still receive compensation without any financial burden or fees, making this a risk-free opportunity for those affected by the alleged fraud.

Why Choose Levi & Korsinsky?

Levi & Korsinsky has built a formidable reputation over the past two decades, securing hundreds of millions for aggrieved shareholders while consistently ranking among the top 50 securities litigation firms in the United States, according to ISS Securities Class Action Services. With a dedicated team of over 70 professionals, the firm is well-equipped to navigate the complex landscape of securities litigation.

Contact Information

Investors seeking more information or wishing to participate in the lawsuit can reach out to:

• - Joseph E. Levi, Esq.

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

For those interested in filing a claim, further details are available at their office located at 33 Whitehall Street, 17th Floor, New York, NY 10004. Investors are urged to act swiftly to preserve their rights under this emerging class action.

Be sure to keep a close eye on developments regarding this lawsuit as more information becomes available.