Rackspace Technology, Inc. (RXT): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

Bronstein, Gewirtz & Grossman, LLC has filed a class action lawsuit against Rackspace Technology, Inc. (RXT) and its officers, alleging securities law violations. The lawsuit claims misstatements were made about the company's business and financial condition between May 7, 2026, and July 8, 2026, impacting revenue. Investors with losses are encouraged to join the case by September 28, 2026.

Rackspace Technology (RXT) shares surged 275% after announcing a partnership with Palantir Technologies (PLTR) to deploy Palantir's AI platform. PLTR stock rose 4.7%. The agreement includes Palantir's software running in Rackspace's data centers and plans to train 250 engineers. RXT's U.K. Sovereign Services cloud platform recently earned VMware Sovereign Cloud Partner Status.

Bleichmar Fonti & Auld LLP announced a class action lawsuit against Rackspace Technology (RXT) and its executives for alleged securities fraud. The suit claims Rackspace misled investors about its AI efforts, leading to a 33.6% stock drop on July 9, 2026, after the company cut its revenue guidance by $150 million. Investors have until September 28, 2026, to join the lawsuit.

Rackspace Technology (RXT) reported Q2 highlights and maintained 2026 guidance. It forecast enterprise AI revenue of $15M to $20M per MW deployed and expects enterprise AI EBITDA margins above 50%. Private Cloud revenue rose to $263M, Public Cloud revenue fell to $407M. 2026 GAAP revenue guidance is $2.45B to $2.55B and free cash flow is positive $50M to $70M.

Rackspace Technology, Inc. (RXT) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.1 2 rxt991_q22026.htm EX-99.1 Document Exhibit 99.1 Rackspace Technology Reports Second Quarter 2026 Results • Revenue of $670 million in the Second Quarter, up 1% Year-over-Year • Private Cloud Revenue was $263 million, up 5% Year-over-Year • Public Cloud Revenue was $407

A securities fraud class-action lawsuit was filed against Rackspace Technology Inc. and unnamed executives, alleging the company misled investors about its AI strategy and financial impact. The complaint cites a July 9 disclosure that AI required resource reallocation and coincided with a $150 million 2026 revenue guidance cut and a $25 million private cloud outlook reduction. Rackspace shares fell 33.6% on July 9, per the complaint.