Company Website:
http://lundinlawpc.com
LOS ANGELES -- (Business Wire)
Lundin
Law PC, a shareholder rights firms, announces a class action lawsuit
has been filed against Xerox Corporation (“Xerox” or the “Company”)
(NYSE: XRX) concerning possible violations of federal securities laws.
Investors who purchased or otherwise acquired shares between April 23,
2012 and October 23, 2015 (the “Class Period”), are encouraged to
contact the Firm before the December 23, 2016 lead plaintiff motion
deadline.
To participate in this class action lawsuit, click
here. You can also call Brian Lundin, Esquire, of Lundin Law PC,
at 888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action. Until a class is
certified, you are not considered represented by an attorney. You may
also choose to do nothing and be an absent class member.
According to the Complaint, 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 two state agencies.
Lundin Law PC was founded by Brian Lundin, a securities litigator based
in Los Angeles dedicated to upholding shareholders’ rights.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161025006898/en/
Contacts:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile:
888-713-1125
brian@lundinlawpc.com
http://lundinlawpc.com/
Source: Lundin Law PC
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