Rackspace Technology, Inc. (RXT) Shareholders Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit

BENSALEM, Pa. , Sept. 1, 2026 /PRNewswire/ -- The Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Rackspace Technology, Inc. IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN RACKSPACE TECHNOLOGY INC. (RXT), CONTACT THE LAW OFFICES OF HOWARD G. SMITH BEFORE SEPTEMBER 28, 2026 (LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.

What Is The Lawsuit About? The complaint filed in this class action alleges that between May 7, 2026 and July 8, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company's enterprise AI efforts would require Rackspace to significantly re-prioritize its capacity and capital away from the profitable Private Cloud segment; (2) that Rackspace's Public Cloud revenue was declining as customers contracted directly with hyperscale cloud platforms; (3) that, as a result, Rackspace was likely to significantly reduce a material portion of its Public Cloud infrastructure resale business; (4) as a result, the Company's fiscal year 2026 revenue would be significantly impacted; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Contact Us To Participate or Learn More: If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact: Howard G. Smith, Esq., Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, Call us at: (215) 638-4847 Email us at: [email protected] , Visit our website at: www.howardsmithlaw.com . To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.