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

Faruqi & Faruqi's Alert to Xerox Investors

In a significant legal development for shareholders of Xerox Holdings Corporation, Faruqi & Faruqi, LLP, a prominent national securities law firm, is actively investigating possible claims against the company arising from a recently filed federal class action lawsuit. Investors affected between January 25, 2024 and October 28, 2024, particularly those who have encountered losses exceeding $75,000, are encouraged to contact the firm to discuss their rights and potential involvement in the lawsuit.

The upcoming deadline for investors wishing to pursue the role of lead plaintiff is set for January 21, 2025. Being appointed as a lead plaintiff is crucial for any shareholder who wants to ensure their voice is heard throughout the legal proceedings. The lead plaintiff represents the interests of the class members under the guidance of their chosen legal counsel.

The complaint against Xerox alleges a series of serious breaches of federal securities laws by the company and its executives. Specifically, it claims that misleading statements were made regarding the company's operations and future prospects, which significantly impacted its market performance. After undergoing a substantial workforce reduction, Xerox reportedly reorganized its salesforce. This restructuring initiative was said to have disrupted productivity, negatively affecting older product sales and delaying the launch of new offerings.

In a troubling report released on April 23, 2024, Xerox revealed a dramatic 12.4% decline in quarterly revenue year-over-year, amounting to $1.50 billion. As a part of this troubling announcement, the company also disclosed a net loss of $113 million and a notable 25.8% drop in equipment sales compared to the previous year. This decline was attributed to what they termed