Overview

A class action lawsuit has been filed against Xerox Holdings Corporation (“Xerox” or the “Company”) (NASDAQ: XRX) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws.  The Xerox class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Xerox securities between January 25, 2024, and October 28, 2024, both dates inclusive (the “Class Period”).  Investors have until January 21, 2025, to seek appointment as lead plaintiff in the Xerox class action lawsuit.

Xerox and its subsidiaries offer workplace technology that integrates hardware, services, and software for enterprises in the Americas and internationally.

In October 2023, Xerox launched its “Reinvention” strategy, focusing on geographic optimization (shifting to partner-led models where applicable), streamlining product offerings (emphasizing digital and IT services), and improving operating efficiencies through organizational simplification.  On January 3, 2024, Xerox introduced the next phase, adopting a business unit model, consolidating operations under a Global Business Services organization, and laying off 15% of its workforce.  By April 23, 2024, the impact became evident: second-quarter revenue dropped 12.4% year-over-year to $1.50 billion, net loss reached -$113 million (a $184 million year-over-year decrease), and equipment sales fell 25.8% to $290 million.

The Xerox 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 and operations.  Specifically, Defendants misrepresented and/or failed to disclose that: (1) after a large workforce reduction, the Company’s salesforce was reorganized with new territory assignments and account coverage; (2) as a result, the Company’s salesforce productivity was disrupted; (3) as a result, the Company had a lower rate of sell-through of older products; (4) the difficulties in flushing out older product would delay the launch of key products; (5) as a result, Xerox was likely to experience lower sales and revenue; and (6) 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.

As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and other Class members have suffered significant losses and damages.

*          *          *

If you purchased or otherwise acquired Xerox securities between January 25, 2024, and October 28, 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 a lead plaintiff in the Xerox class action lawsuit is January 21, 2025.