New York, New York--(Newsfile Corp. - August 7, 2026) - Kaplan Fox &amp; Kilsheimer LLP announces that a class action lawsuit has been filed against Rackspace Technology, Inc. (&#34;Rackspace&#34; or the

<p>New York, New York--(Newsfile Corp. - August 7, 2026) - <a href="https://api.newsfilecorp.com/redirect/angBpH1Q8A">Kaplan Fox &#38; Kilsheimer LLP</a> announces that a class action lawsuit has been filed against Rackspace Technology, Inc. ("Rackspace" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/RXT">RXT</a>) on behalf of investors that purchased or otherwise acquired Rackspace securities between May 7, 2026 and July 8, 2026 (the "Class Period").</p><p style="text-align: center;"><a href="https://api.newsfilecorp.com/redirect/24XmBi5Anm">CLICK HERE TO JOIN THE CASE</a></p><p><b>If you are an investor in Rackspace and have suffered losses, you may </b><a href="https://api.newsfilecorp.com/redirect/MqXyRFMeW4"><b>CLICK HERE</b></a><b> to contact us. You may also contact Kaplan Fox by emailing </b><a href="mailto:pmayer@kaplanfox.com"><b>pmayer@kaplanfox.com</b></a><b> or by calling (646) 315-9003.</b></p><p><b>DEADLINE REMINDER: </b>If you are a member of the proposed Class, you may move the court <u><b>no later than September 28, 2026</b></u> to serve as a lead plaintiff for the purported class.  If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.</p><p>The complaint alleges, throughout the Class Period Defendants made false and misleading statements and failed to disclose to investors "(1) the Company's enterprise AI efforts would require Rackspace to significantly re-prioritize its capacity and capital away from the profitable Private Cloud segment; (2) that Rackspace's Public Cloud revenue was declining as customers contracted directly with hyperscale cloud platforms; (3) that, as a result, Rackspace was likely to significantly reduce a material portion of its Public Cloud infrastructure resale business; (4) as a result, the Company's fiscal year 2026 revenue would be significantly impacted; and (5) that, 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."</p><p><b>WHY CONTACT KAPLAN FOX?</b></p><p>Kaplan Fox &#38; Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.</p><p>Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in <i>In re Bank of America</i>&#8212;the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act&#8212;$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in <i>ATRS v. Allianz Global Investors</i>, and a $475 million settlement in <i>In re Merrill Lynch</i>.</p><p>For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.</p><p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.</p><p>If you have any questions about this Notice, your rights, or your interests, please contact:</p><div id="contactInfo"><p><b>CONTACT:</b><br />Pamela A. Mayer<br /><a href="https://api.newsfilecorp.com/redirect/bgp10uamxo">KAPLAN FOX &#38; KILSHEIMER LLP</a><br />800 Third Avenue, 38th Floor<br />New York, New York 10022<br />(646) 315-9003<br /><a href="mailto:pmayer@kaplanfox.com">pmayer@kaplanfox.com</a></p><p>Laurence D. King<br /><a href="https://api.newsfilecorp.com/redirect/3KDkLtEDbX">KAPLAN FOX &#38; KILSHEIMER LLP</a><br />1999 Harrison Street, Suite 1501<br />Oakland, California 94612<br />(415) 772-4704<br /><a href="mailto:lking@kaplanfox.com">lking@kaplanfox.com</a></p></div><p>Contacting or submitting information to Kaplan Fox &#38; Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.</p><p><a href="https://api.newsfilecorp.com/redirect/N3DKquN1go">https://www.kaplanfox.com/case/rackspace-technology-inc-class-action-alert-learn-more-now/</a></p><p id="corporateNewsLogoContainer"><img src="https://images.newsfilecorp.com/files/12532/308527_f2678a4e64add97f_logo.jpg" id="corporateNewsLogo" alt="Corporate Logo" /></p><p id="corporateLinkBack">To view the source version of this press release, please visit <a href="https://api.newsfilecorp.com/redirect/XEmzVuPDbB">https://www.newsfilecorp.com/release/308527</a></p><p><img src="https://api.newsfilecorp.com/newsinfo/308527/197" alt="" /></p>

Kaplan Fox Urges Investors of Rackspace Technology, Inc. (RXT) with Significant Losses to Seek a Leadership Role Before September 28, 2026

Rackspace Faces Securities Class Action Over AI Plans and Cloud Revenue

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>New York, New York--(Newsfile Corp. - August 7, 2026) - Kaplan Fox &amp;amp; Kilsheimer LLP announces that a class action lawsuit has been filed against Rackspace Technology, Inc. (&amp;#34;Rackspace&amp;#34; or the</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Kaplan Fox &amp; Kilsheimer LLP filed a securities class-action against Rackspace Technology alleging misstatements during May through July 2026. The complaint centers on AI investments and a decline in Public Cloud revenue, suggesting 2026 revenue could be materially affected. The outcome is uncertain, but the suit could pressure RXT shares and sentiment near-term.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Class action filed against Rackspace (RXT) covering May 7–July 8, 2026.</li><li>Alleges misstatements on enterprise AI priorities and Public Cloud revenue.</li><li>Deadline to move for lead plaintiff: September 28, 2026.</li><li>Kaplan Fox &amp; Kilsheimer LLP is the plaintiff counsel; cites large past recoveries.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Rackspace Technology, Inc. (RXT)</strong>: Subject of the suit; potential impact on AI strategy and 2026 revenue expectations.</li><li><strong>Kaplan Fox &amp; Kilsheimer LLP (N/A)</strong>: Plaintiff counsel; no direct market impact, but credible litigation profile.</li><li><strong>Bank of America Corporation (BAC)</strong>: Cited in the release as precedent for large securities recoveries; not a Rackspace-specific driver.</li></ul>
  </section>

  <section data-block="category">
    <h3>Legal</h3>
    <p>Category: Legal. The release documents a securities class action alleging misstatements, a common risk factor for tech/IP-focused names; could affect investor sentiment and valuation if adverse facts emerge.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Headline-driven volatility could create near-term downside in RXT.</li><li>Allegations focus on AI strategy and Public Cloud revenue; key earnings drivers.</li><li>No settlement or factual findings yet; outcome uncertain and event-driven.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Class Period: May 7, 2026 to July 8, 2026.</li><li>Lead plaintiff deadline: September 28, 2026.</li><li>Allegations: misstatements about enterprise AI prioritization and Public Cloud revenue.</li><li>Plaintiff firm: Kaplan Fox &amp; Kilsheimer LLP.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Near-term bearish overhang on RXT pending lawsuit developments; limited upside until clarity arrives.</p>
  </section>
</section>


<p>New York, New York--(Newsfile Corp. - August 7, 2026) - <a href="https://api.newsfilecorp.com/redirect/angBpH1Q8A">Kaplan Fox &#38; Kilsheimer LLP</a> announces that a class action lawsuit has been filed against Rackspace Technology, Inc. ("Rackspace" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/RXT">RXT</a>) on behalf of investors that purchased or otherwise acquired Rackspace securities between May 7, 2026 and July 8, 2026 (the "Class Period").</p><p style="text-align: center;"><a href="https://api.newsfilecorp.com/redirect/24XmBi5Anm">CLICK HERE TO JOIN THE CASE</a></p><p><b>If you are an investor in Rackspace and have suffered losses, you may </b><a href="https://api.newsfilecorp.com/redirect/MqXyRFMeW4"><b>CLICK HERE</b></a><b> to contact us. You may also contact Kaplan Fox by emailing </b><a href="mailto:pmayer@kaplanfox.com"><b>pmayer@kaplanfox.com</b></a><b> or by calling (646) 315-9003.</b></p><p><b>DEADLINE REMINDER: </b>If you are a member of the proposed Class, you may move the court <u><b>no later than September 28, 2026</b></u> to serve as a lead plaintiff for the purported class.  If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.</p><p>The complaint alleges, throughout the Class Period Defendants made false and misleading statements and failed to disclose to investors "(1) the Company's enterprise AI efforts would require Rackspace to significantly re-prioritize its capacity and capital away from the profitable Private Cloud segment; (2) that Rackspace's Public Cloud revenue was declining as customers contracted directly with hyperscale cloud platforms; (3) that, as a result, Rackspace was likely to significantly reduce a material portion of its Public Cloud infrastructure resale business; (4) as a result, the Company's fiscal year 2026 revenue would be significantly impacted; and (5) that, 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."</p><p><b>WHY CONTACT KAPLAN FOX?</b></p><p>Kaplan Fox &#38; Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.</p><p>Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in <i>In re Bank of America</i>&#8212;the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act&#8212;$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in <i>ATRS v. Allianz Global Investors</i>, and a $475 million settlement in <i>In re Merrill Lynch</i>.</p><p>For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.</p><p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.</p><p>If you have any questions about this Notice, your rights, or your interests, please contact:</p><div id="contactInfo"><p><b>CONTACT:</b><br />Pamela A. Mayer<br /><a href="https://api.newsfilecorp.com/redirect/bgp10uamxo">KAPLAN FOX &#38; KILSHEIMER LLP</a><br />800 Third Avenue, 38th Floor<br />New York, New York 10022<br />(646) 315-9003<br /><a href="mailto:pmayer@kaplanfox.com">pmayer@kaplanfox.com</a></p><p>Laurence D. King<br /><a href="https://api.newsfilecorp.com/redirect/3KDkLtEDbX">KAPLAN FOX &#38; KILSHEIMER LLP</a><br />1999 Harrison Street, Suite 1501<br />Oakland, California 94612<br />(415) 772-4704<br /><a href="mailto:lking@kaplanfox.com">lking@kaplanfox.com</a></p></div><p>Contacting or submitting information to Kaplan Fox &#38; Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.</p><p><a href="https://api.newsfilecorp.com/redirect/N3DKquN1go">https://www.kaplanfox.com/case/rackspace-technology-inc-class-action-alert-learn-more-now/</a></p><p id="corporateNewsLogoContainer"><img src="https://images.newsfilecorp.com/files/12532/308527_f2678a4e64add97f_logo.jpg" id="corporateNewsLogo" alt="Corporate Logo" /></p><p id="corporateLinkBack">To view the source version of this press release, please visit <a href="https://api.newsfilecorp.com/redirect/XEmzVuPDbB">https://www.newsfilecorp.com/release/308527</a></p><p><img src="https://api.newsfilecorp.com/newsinfo/308527/197" alt="" /></p>

Kaplan Fox & Kilsheimer LLP filed a securities class-action against Rackspace Technology alleging misstatements during May through July 2026. The complaint centers on AI investments and a decline in Public Cloud revenue, suggesting 2026 revenue could be materially affected. The outcome is uncertain, but the suit could pressure RXT shares and sentiment near-term.

News insight

Kaplan Fox Urges Investors of Rackspace Technology, Inc. (RXT) with Significant Losses to Seek a Leadership Role Before September 28, 2026

AI summary

Sentiment rationale

Key facts

Legal