Barrack, Rodos & Bacine Notifies Shareholders of DXC Technology Company (DXC) of a Securities Class Action Lawsuit

Core Viewpoint - A class action lawsuit has been filed against DXC Technology Company for alleged fraud-based violations of federal securities laws, with significant stock price declines noted during the class period from May 26, 2021, to May 16, 2024 [1] Company Overview - DXC Technology Company, founded in 2017, provides information technology services and solutions through two segments: "Global Business Services" and "Global Infrastructure Services" [4] - The company has expanded its capabilities and market reach through several acquisitions since its inception [4] Allegations and Misrepresentation - The lawsuit claims that DXC misrepresented the success of its "transformative journey" and its ability to integrate acquired companies, while simultaneously committing to reduce restructuring and integration costs [4] - It is alleged that the company knew that reducing TSI costs would limit integration efforts, contradicting its public statements about successful integration [4] Market Reactions and Stock Performance - The market reacted negatively to several disclosures, including a 17% drop in stock price on August 3, 2022, following a significant announcement [5] - Further declines occurred after the sudden departure of the CEO on December 2, 2022, and a major admission by the new CEO on May 16, 2024, leading to a 17% drop in stock price [5] Legal Representation - The law firm Barrack, Rodos & Bacine, with extensive experience in securities law class actions, is representing the investors in this case [6]