Xerox Corporation (NYSE: XRX)
A class action has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of Xerox Corporation (NYSE: XRX) common stock between April 23, 2012 through October 23, 2015, (the “Class Period”).
The complaint alleges that during the Class Period, Xerox repeatedly touted its new software product, Health Enterprise, as an important growth area for the Company, which would operate at low cost and high profit margin. The Company’s statements pertaining to the profitability and growth prospects of the Health Enterprise business were materially false and misleading because Xerox failed to disclose: that the Company’s existing Health Enterprise projects were experiencing major delays and cost overruns; that Xerox would be unable to deliver Health Enterprise implementations at sustainable profits; and that as a result of the above, the Company’s statements about its business, operations, and prospects lacked a reasonable basis. On October 26, 2015, Xerox released its third quarter 2015 financial results which were disappointing due to costs associated with the implementation of Health Enterprise and the termination of Health Enterprise contracts with the state agencies of California and Montana. When this information was disclosed, shares of Xerox dropped in value.
If you are a current shareholder and purchased stock between April 23, 2012 through October 23, 2015, and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.
Please Note: Neither the submission to nor the receipt of information by The Law Offices of Marc S. Henzel or one of its attorneys through this website constitutes an agreement by the firm to represent the individual and does not create an attorney-client relationship.