Pomerantz Law Firm Initiates Class Action Against Xerox Holdings Corp. Over Securities Fraud

Shareholder Alert: Class Action Lawsuit Filed Against Xerox Holdings Corporation

Pomerantz LLP, a prominent law firm renowned for its focus on corporate and securities class actions, has initiated a class action lawsuit against Xerox Holdings Corporation (NASDAQ: XRX). This legal action is centered around allegations of securities fraud and other questionable business practices that may have misled investors.

Context of the Class Action

The lawsuit predominantly concerns events surrounding Xerox's announcement of its dismal financial quarterly reports and subsequent drops in stock prices. Investors who purchased or otherwise acquired Xerox securities during the period known as the Class Period have been advised to contact the firm either via phone or email if they wish to participate as Lead Plaintiff. The deadline for submitting such requests is set for January 18, 2025.

Financial Missteps and Stock Declines

In the second quarter of 2024, Xerox reported a staggering 12.4% decline in revenue year-over-year, totaling just $1.50 billion, while net losses reached $113 million, a drop of $184 million compared to the previous year. Equipment sales also plummeted by 25.8%, down to $290 million. Management attributed these declines to its ongoing