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Gainey McKenna & Egleston Announces a Class Action Lawsuit Has Been Filed Against TELUS International (Cda) Inc. (TIXT)

1. A class action lawsuit has been filed against TELUS International (TIXT). 2. Allegations include misleading statements about the company's AI Data Solutions. 3. Concerns about declining profitability tied to AI development pressure margins. 4. Investors are encouraged to join the class action before March 31, 2025.

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FAQ

Why Bearish?

The lawsuit suggests significant operational issues, which could harm investor confidence, similar to other tech lawsuits impacting stock prices.

How important is it?

Legal challenges can lead to significant stock price movements, affecting market perception of financial health.

Why Short Term?

Investors may react swiftly to negative legal news, as seen in past cases involving tech firms.

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TIXT
NEW YORK, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired TELUS International (Cda) Inc. (“TELUS” or the “Company”) (NYSE: TIXT) securities between February 16, 2023 and August 1, 2024, inclusive (the “Class Period”). The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose adverse facts about the Company’s business, operations, and prospects, including allegations that (i) the Company’s AI Data Solutions offerings required the cannibalization of its higher-margin offerings; (ii) TELUS International’s declining profitability was tied to the Company’s drive to develop AI capabilities; (iii) TELUS International’s shift toward AI put greater pressure on the Company’s margins than previously disclosed; and (iv) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. Investors who purchased or otherwise acquired shares of TELUS should contact the Firm prior to the March 31, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com. Please visit our website at http://www.gme-law.com for more information about the firm.

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