IMPORTANT INVESTOR ALERT: Lundin Law PC Announces Securities Class Action Lawsuit against Xerox Corp. & Encourages Investors ...
October 26 2016 - 01:43PM
Business Wire
Lundin Law PC, a shareholder rights firm, announces a class
action lawsuit has been filed against Xerox Corporation (“Xerox” or
the “Company”) (NYSE: XRX) concerning possible violations of
federal securities laws. Investors who purchased or otherwise
acquired shares between April 23, 2012 and October 23, 2015 (the
“Class Period”), are encouraged to contact the Firm before the
December 23, 2016 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esquire, of Lundin Law PC, at
888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action. Until a class
is certified, you are not considered represented by an attorney.
You may also choose to do nothing and be an absent class
member.
According to the Complaint, 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 two state agencies.
Lundin Law PC was founded by Brian Lundin, a securities
litigator based in Los Angeles dedicated to upholding shareholders’
rights.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161026006546/en/
Lundin Law PCBrian Lundin, Esq.Telephone: 888-713-1033Facsimile:
888-713-1125brian@lundinlawpc.comhttp://lundinlawpc.com/
Xerox (NYSE:XRX)
Historical Stock Chart
From Feb 2024 to Mar 2024
Xerox (NYSE:XRX)
Historical Stock Chart
From Mar 2023 to Mar 2024