Case Summary
TELUS
NYSE: TIXT
Case Details
- Sarria v. TELUS International (Cda) Inc. et al.
- Class Period:February 16, 2023 - August 1, 2024
- Date Filed:January 30, 2025
- Jurisdiction:U.S. District Court, Southern District of New York
- Docket Number: 1:25-cv-00889
- Lead Plaintiff Deadline: March 31, 2025
Seek Plaintiff 51
Overview
A class action lawsuit has been filed TELUS International (Cda) Inc. (“Telus International” or the “Company”) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws. The Company’s common stock trades in an efficient market on the New York Stock Exchange under the ticker symbol “TIXT.”
The Telus International class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Telus International securities between February 16, 2023, and August 1, 2024, both dates inclusive (the “Class Period”). Investors have until March 31, 2025, to seek appointment as lead plaintiff in the Telus International class action lawsuit.
Telus International purports to design, build, and deliver digital solutions for customer experience, including artificial intelligence (“AI”) services, cloud solutions, and user experience/user interface design. Historically, Telus International’s primary business was customer experience management for business call centers. Starting with its acquisition of Lionbridge AI in December 2020, the Company expanded its digital customer experience footprint and introduced “AI Data Solutions” to its services. Since being introduced, the Company has completed additional acquisitions to bolster its AI-related capabilities. As the Company pivoted, the Company’s customer experience management services went from accounting for 75% of the Company’s revenues in 2019 to only 48% in 2022. Over the same period, revenue from Al Data Solutions increased from 0% to 13%. The Company’s digital focus has grown such that, starting in September 2024, Telus International rebranded itself as Telus Digital Experience (or “Telus Digital”).
The Telus International class action lawsuit alleges that Defendants, throughout the Class Period, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company’s AI Data Solutions offerings required the cannibalization of its higher-margin offerings; (2) that Telus International’s declining profitability was tied to the Company’s drive to develop AI capabilities; (3) that Telus International’s shift toward AI put greater pressure on the Company’s margins than previously disclosed; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis; (5) the Company had insufficient liquidity; and (6) Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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If you purchased or otherwise acquired Telus International securities between February 16, 2023, and August 1, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page.
You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected].
The deadline to apply to the Court to serve as lead plaintiff in the Telus International class action lawsuit is March 31, 2025.