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Rackspace Technology, Inc. Investigation Initiated: Levi & Korsinsky Investigates the Officers and Directors of Rackspace Technology, Inc. (RXT)

accessnewswire.com
RXT The company cut its full-year revenue and adjusted EBITDA guidance significantly, leading to a sharp stock price decline. An investigation into potential securities law violations has also been initiated. PLTR Palantir is mentioned as a partner in the announcement of Rackspace's equity program, but no specific sentiment or impact on Palantir is detailed in the article.

Rackspace Technology, Inc. Investigation Initiated: Levi & Korsinsky Investigates the Officers and Directors of Rackspace Technology, Inc. (RXT) NEW YORK CITY, NY / ACCESS Newswire / July 15, 2026 / Levi & Korsinsky notifies investors that it has commenced an investigation into Rackspace Technology, Inc. ("Rackspace Technology, Inc.") (NASDAQ:RXT) concerning potential violations of the federal securities laws.

Rackspace Technology shares fell more than 25% intraday on July 9, 2026 after the Company cut its full-year 2026 revenue guidance by $150 million and its adjusted EBITDA guidance by $20 million.

On July 8, 2026, RBC Capital raised its price target on Rackspace on the strength of the Company's Q1 2026 results. One day later, on July 9, 2026, the Company filed an 8-K reducing its FY2026 revenue outlook to a range of $2.45 billion to $2.55 billion, down from a prior range of $2.60 billion to $2.70 billion. Adjusted EBITDA guidance was lowered to $285 million to $295 million from $305 million to $315 million.

The guidance cut was disclosed alongside a $250 million at-the-market equity program and a partnership with Palantir. Trading volume surged to several times the 30-day average and the stock price abruptly declined.

If you suffered a loss on your Rackspace Technology, Inc. securities and would like to explore a potential recovery under the federal securities laws, Learn More About the Investigation or contact Joseph E. Levi, Esq. via email at [email protected] or call (212)363-7500 to speak to our team of experienced shareholder advocates.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

[email protected]

Tel: (212)363-7500

Fax: (212)363-7171

SOURCE: Levi & Korsinsky, LLP