THE LAWSUIT: A class action securities lawsuit was filed against Xerox Holdings Corporation (XRX) that seeks to recover losses of Xerox Holdings Corporation shareholders who were adversely affected by alleged securities fraud between January 25, 2024 and October 28, 2024
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CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: Xerox issued a press release on October 29, 2024, announcing the Company’s financial results for the third quarter of 2024. Among other items, Xerox issued non-GAAP earnings per share of $0.25, missing consensus estimates by $0.26, and revenue of $1.53 billion, representing a decline of 7.3% year-over-year and missing consensus estimates by $100 million. Xerox advised that “[t]his quarter includes an after-tax non-cash goodwill impairment charge of $1.0 billion, or $8.16 per share and a charge to tax expense related to the establishment of a valuation allowance of $161 million, or $1.29 per share.”
Following this news, Xerox’s stock price fell over 17% on October 29, 2024.
WHAT’S NEXT? If you suffered a loss in Xerox Holdings Corporation stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/xerox-holdings-corporation-lawsuit-submission-form?wire=18 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
