SAN FRANCISCO, Jan. 25, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP notifies investors in DXC Technology Company (NYSE: DXC) of the securities fraud class action pending in the United States District Court for the Eastern District of Virginia and the February 25, 2019 Lead Plaintiff deadline. If you purchased or otherwise acquired DXC shares between February 8, 2018 and November 6, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/DXC
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
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.
Whistleblowers: Persons with non-public information regarding DXC should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email DXC@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80+ attorneys in 10 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000