DXC Technology Company (NYSE: DXC)
Hagens Berman Sobol Shapiro LLP alerts investors in DXC Technology Company (NYSE: DXC) to the February 25, 2019 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Eastern District of Virginia.
If you purchased or otherwise acquired shares of DXC between February 8, 2018 and November 6, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing DXC@hbsslaw.com.
The complaint alleges Defendants misled investors when they assured them that DXC streamlined its workforce, cutting costs significantly by doing so, thereby optimizing its head count and calibrating the mix of skills of its employees to both service existing clients and capture new business.
On October 25, 2018, an analyst reported the Company reaffirmed its earnings guidance and concluded that a double-digit revenue decline would be unlikely.
Then, on November 6, 2018, DXC and senior management reported disappointing financial results for the Company’s second quarter 2019 and slashed its 2019 revenue outlook by $800 million.
This news drove the price of DXC shares down $9, or about 12.5%, to close at $63.21.
“Right now, our focus is on investors’ losses and the extent to which Defendants may have misled them,” said Hagens Berman partner Reed Kathrein.
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