NEW YORK, Feb. 07, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of DXC Technology Company (“DXC Technology” or the “Company”) (NYSE: DXC). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether DXC Technology and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 24, 2018, it was reported that Karan Puri, who headed the Company’s Americas sales force was fired due to a sharp double digit decline in the region’s revenue. The article also suggested that an internal Company source had indicated that DXC Technology had been struggling to efficiently serve the demand from its customers.
On this news, the Company’s stock price fell 16%, to a low of $69.51 per share on October 24, 2018.
Then on November 6, 2018, the Company reported its second quarter 2019 financial results, and that the Company would reduce its FY19 revenue outlook by $800 million.
On this news, the Company’s stock price fell 13%, to close at $63.21 per share on November 7, 2018.
DXC Technology Company (DXC) The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com .
CONTACT: Robert S. Willoughby Pomerantz LLP rswilloughby@pomlaw.com 888-476-6529 ext. 9980
