Investor Notice: Robbins LLP Informs Stockholders of the Class Action Lawsuit Filed Against Xerox Holdings Corporation

Core Viewpoint - A class action lawsuit has been filed against Xerox Holdings Corporation for allegedly misleading investors about its business prospects during a specific period [1][2]. Allegations - The lawsuit claims that Xerox failed to disclose several critical issues, including a reorganization of its salesforce after a significant workforce reduction, which disrupted productivity [2]. - The company reportedly experienced a lower sell-through rate of older products and delays in launching key new products, leading to anticipated lower sales and revenue [2]. Financial Performance - On October 29, 2024, Xerox disclosed disappointing financial results, including a 7.5% year-over-year decline in quarterly revenue to $1.53 billion and a net loss of $1.2 billion, which was a decrease of $1.3 billion year-over-year [3]. - Equipment sales also fell by 12.2% year-over-year to $339 million [3]. - Following the announcement, Xerox's share price dropped by $1.79, or 17.41%, closing at $8.49 per share [3]. Legal Proceedings - Shareholders interested in participating in the class action must submit their application to the court by January 21, 2025, to serve as lead plaintiff [4]. - Participation in the case is not required to be eligible for recovery, allowing shareholders to remain absent class members if they choose [4]. Company Background - Robbins LLP, the law firm handling the case, has a history of litigating securities class actions and has recovered over $1 billion for shareholders since its inception [6].