IMPORTANT INVESTOR ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Xerox Corp. & Encourages Invest...
October 26 2016 - 10:56AM
Business Wire
Khang & Khang LLP (the “Firm”) announces the filing of a
class action lawsuit against Xerox Corporation (“Xerox” or the
“Company”) (NYSE: XRX). Investors who purchased or otherwise
acquired shares between April 23, 2012 and October 23, 2015
inclusive (the “Class Period”), are encouraged to contact the Firm
prior to the December 23, 2016 lead plaintiff motion
deadline.
If you purchased shares of Xerox during the Class Period, please
contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von
Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949)
419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case yet. Until
certification occurs, you are not represented by an attorney. You
may choose to take no action and remain a passive class member.
The complaint alleges that during the Class Period, Xerox
repeatedly touted its new software product, Health Enterprise, as
an important growth area for the Company, which would operate at
low cost and high profit margin. The Company’s statements
pertaining to the profitability and growth prospects of the Health
Enterprise business were materially false and misleading because
Xerox failed to disclose: that the Company’s existing Health
Enterprise projects were experiencing major delays and cost
overruns; that Xerox would be unable to deliver Health Enterprise
implementations at sustainable profits; and that as a result of the
above, the Company’s statements about its business, operations, and
prospects lacked a reasonable basis. On October 26, 2015, Xerox
released its third quarter 2015 financial results which were
disappointing due to costs associated with the implementation of
Health Enterprise and the termination of Health Enterprise
contracts with the state agencies of California and Montana. When
this information was disclosed, shares of Xerox dropped in
value.
If you wish to learn more about this lawsuit at no
charge, or if you have questions concerning this notice or your
rights, please contact Joon M. Khang, a prominent litigator for
almost two decades, by telephone: (949) 419-3834, or via e-mail at
joon@khanglaw.com.
This press release may constitute Attorney Advertising in some
jurisdictions.
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version on businesswire.com: http://www.businesswire.com/news/home/20161026006252/en/
Khang & Khang LLPJoon M. Khang, Esq.Telephone:
949-419-3834Facsimile: 949-225-4474joon@khanglaw.com
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