DXC Technology Company (NYSE: DXC)

This lawsuit is for anyone who acquired securities in DXC Technology Company (NYSE: DXC) from May 26, 2021 through May 16, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely inform investors that the Company’s efforts to integrate companies that it acquired, known as its “transformation journey,” was going poorly and would require additional outlays of cash to complete.

On August 3, 2022, DXC released disappointing financial results for the first quarter of fiscal year 2023, attributing it to “cost optimization efforts [moving] at a slower pace than anticipated.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on December 20, 2023, DXC announced that sudden departure of its CEO and Chairman of the Board. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume. Then, on May 16, 2024, DXC’s new CEO stated that “the previous restructurings did not set a real, clean, solid, fully integrated baseline for profitable growth” because the systems that were acquired over time were “never integrated, never deduped,” and admitted that the Company was “not [a] fully functional organization.” Additionally, the Company disclosed that it would need to spend an additional $250 million to achieve the restructuring and integration process that it had previously claimed to have been successfully implementing. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in DXC Technology Company (NYSE: DXC) from May 26, 2021 through May 16, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.