Faruqi & Faruqi, LLP is investigating the claims on behalf of Xerox investor Investing.com

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson encourages investors who have suffered losses greater than $75,000 in Xerox (NASDAQ: ) to contact him directly to discuss their options

If you have suffered losses greater than $75,000 Xerox between January 25, 2024 and October 28, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (ext. 1310).

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New York, New York–(Newsfile Corp. – January 05, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Xerox Holdings Corporation (“Xerox” or the “Company”) ( NASDAQ: XRX) and reminds investors of The deadline is January 21, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its inception in 1995. See www.faruqilaw.com.

As set forth below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose: (1) that, following major workforce reductions, the Company’s sales force reorganized with new territory allocation and account coverage; (2) that the productivity of the Company’s sales force was interrupted as a result; (3) that as a result the Company had a lower rate of sales of older products; (4) that difficulties in flushing out older products would delay the launch of key products; (5) that, as a result, Xerox will likely experience lower sales and revenues; and (6) that, as a result of the above, the defendant’s positive statements about the Company’s business, operations and prospects were materially misleading and/or lacked a reasonable basis.

On April 23, 2024, before the market opened, the Company disclosed that for the second quarter of 2024, quarterly revenue fell 12.4% year-over-year to $1.50 billion, net loss fell to -$113 million ( down $184 million year-over-year), and equipment sales fell 25.8% year-over-year to $290 million. The company admitted in part that “geographic simplification” led to the year-over-year decline. The company also revealed in part that its “Reinvention” plan was “initially destructive to sales operations,” but reassured investors that it “sees the benefits of a new business unit-led operating model in equipment order momentum.”

Following this news, the Company’s share price fell $1.66, or 10.11%, to $14.76 per share on April 23, 2024, due to unusually high trading volume.

Then, on October 29, 2024, before the market opened, the Company revealed “lower-than-expected improvements in sales force productivity” and “delays in the global launch of two new products” led to “weak sales.” The company reported that in the third quarter of 2024, quarterly revenue fell 7.5% year-over-year to $1.53 billion, net loss fell to -$1.2 billion (down $1.3 billion from the previous year), and equipment sales fell by 12.2% compared to the previous year. year to 339 million dollars. In a corresponding earnings call, the company’s COO John Bruno revealed that the product delay was actually a “forecasting issue” where the company “had higher expectations that we would go through older product” that it needed to “sell through” to “make those transitions .”

Following this news, the Company’s share price fell $1.79, or 17.41%, to $8.49 per share on October 29, 2024, due to unusually high trading volume.

A court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class, who is adequate and typical of the class members and who directs and oversees the litigation on behalf of the putative class. Any putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information about Xerox’s conduct to contact the company, including whistleblowers, former employees, shareholders and others.

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Advertising of lawyers. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.

To view the original version of this press release, visit https://www.newsfilecorp.com/release/236035