INVESTOR ALERT: Goldberg Law PC Files Securities Class Action Lawsuit against Xerox Corp. & Encourages Investors with Losses ...
October 25 2016 - 9:36PM
Business Wire
Goldberg Law PC, a national shareholder rights litigation firm,
announces a class action lawsuit has been filed against Xerox
Corporation (“Xerox” or the “Company”) (NYSE: XRX). Investors who
purchased or otherwise acquired shares between April 23, 2012 and
October 23, 2015 (the “Class Period”), are encouraged to contact
the Firm in advance of the December 23, 2016
lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class
Period, click here to participate. In addition, we encourage
you to contact Michael Goldberg or Brian Schall, of Goldberg Law
PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at
800-977-7401, to discuss your rights without cost to you. You can
also reach us through the firm’s website at
http://www.Goldberglawpc.com, or by email at
info@goldberglawpc.com.
The class in this case has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
The complaint alleges that during the Class Period, 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 the state agencies of California and Montana. When
this news was released, shares of Xerox fell in value, causing
investors harm.
Goldberg Law PC represents shareholders around the world and
specializes in securities class actions and shareholder rights
litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20161025006884/en/
Goldberg Law PC, Los AngelesMichael Goldberg, Esq.,
800-977-7401Brian Schall, Esq.,
800-977-7401info@goldberglawpc.comwww.Goldberglawpc.com
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