The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased Xerox Corporation (NYSE: XRX) securities between April 23, 2012 and October 23, 2015.
According to the complaint, during the Class Period the Company violated securities laws by failing to disclose that: (a) the Company’s existing Health Enterprise projects were experiencing major delays and cost overruns; and (b) the Company would be unable to deliver Health Enterprise implementations at sustainable profits.
On October 26, 2015, Xerox released third quarter 2015 financial results that missed analysts’ estimates due in part to a $385 million pre-tax charge and lost revenues relating to assets and unrecoverable costs associated with its Health Enterprise implementation projects and the termination of Health Enterprise’s California and Montana projects. Following this news, shares of Xerox fell from a class period high of $13.57 per share on December 5, 2014, to a close of $9.01 per share on October 27, 2015.
If you suffered a loss in Xerox you have until December 23, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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