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INTRODUCTION TO THE XEROX ACTION LAWSUIT

Contact us today for a free case evaluation in the Xerox class action lawsuit

The Xerox class action lawsuit, filed in the United States District Court for the Southern District of New York, represents a pivotal moment for the company and its investors. This legal action stems from allegations of misleading statements and material omissions made by Xerox and certain executives during a specific period, referred to as the Class Period. As the case progresses, it raises important questions about corporate transparency, investor protection, and the responsibilities of publicly traded companies.
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For investors who purchased or acquired Xerox Holdings Corporation (NASDAQ: XRX) securities between January 25, 2024, and October 28, 2024, the Xerox class action lawsuit presents an opportunity to seek potential compensation for losses incurred due to alleged misconduct. The legal proceedings aim to hold the company accountable for purported violations of federal securities laws and to provide a mechanism for affected shareholders to recover damages.

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Motions for the Appointment of Lead Plaintiff

If you have suffered losses in Xerox stock and are interested in becoming the lead plaintiff in the Xerox class action lawsuit or have any inquiries regarding your rights as a shareholder, please reach out to Xerox Stock Loss Lawyer Timothy L. Miles at no cost. You can contact him by calling 855/846-6529, sending an e-mail to [email protected], or filling out a contact form below.
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Lead plaintiff motions for the Xerox ​class action lawsuit must be filed with the court no later than January 21, 2024.​

Key Allegations Against Xerox Class Action Lawsuit

The Xerox ​class action lawsuit centers on several key allegations that form the basis of the legal action. These allegations, if proven, suggest that the company and certain executives may have violated federal securities laws by making false or misleading statements and omitting material information. Understanding these allegations in detail is crucial for comprehending the nature of the lawsuit and its potential implications for Xerox and its shareholders.

1. Misleading Statements About Salesforce Reorganization:
   • The Xerox ​class action lawsuit alleges that Xerox failed to adequately disclose the extent and impact of a significant salesforce reorganization.
   • Following a large workforce reduction, the company reportedly reassigned territories and account coverage for its sales team.
   • This reorganization, according to the allegations, led to substantial disruptions in salesforce productivity.
   • The complaint contends that Xerox did not provide sufficient information about these changes and their potential negative effects on the company's sales performance.
2. Undisclosed Issues with Product Sell-Through:
   • The Xerox ​lawsuit claims that Xerox experienced a lower rate of sell-through for older products than anticipated or communicated to investors.
   • This issue allegedly created inventory challenges and affected the company's ability to introduce new products to the market.
   • The Xerox lawsuit asserts that Xerox failed to disclose these difficulties in a timely and transparent manner, potentially misleading investors about the company's product lifecycle management and inventory status.
3. Delays in New Product Launches:
   • According to the allegations, Xerox faced significant delays in launching key new products.
   • These delays were purportedly linked to the company's struggles in clearing out older inventory.
   • The Xerox ​class action lawsuit contends that Xerox did not adequately inform shareholders about these delays and their potential impact on revenue and market competitiveness.
4. Misrepresentation of Financial Outlook:
   • The complaint alleges that Xerox provided overly optimistic financial projections and statements about its business prospects.
   • Given the undisclosed challenges with salesforce productivity, product sell-through, and launch delays, the lawsuit claims that these positive statements lacked a reasonable basis.
   • The lawsuit suggests that Xerox was likely to experience lower sales and revenue than what was communicated to or expected by investors.
5. Failure to Disclose Material Information:
   • The Xerox ​class action lawsuit accuses Xerox of failing to disclose material adverse facts about its business operations and prospects.
   • This alleged omission of crucial information is claimed to have created a false impression of the company's financial health and future performance.
6. Impact on Stock Price:
   • The complaint points to significant drops in Xerox's stock price following key disclosures as evidence of the materiality of the allegedly withheld information.
   • These stock price declines allegedly caused substantial losses for investors who had purchased Xerox securities during the Class Period.
7. Violations of Securities Laws:
   • The Xerox ​class action lawsuit alleges that the actions and omissions of Xerox and certain executives violated specific provisions of the Securities Exchange Act of 1934.
   • These violations are said to include making untrue statements of material fact and omitting to state material facts necessary to make the statements not misleading.
8. Corporate Governance Issues:
   • The allegations raise questions about Xerox's corporate governance practices, particularly in relation to transparency and disclosure.
   • The Xerox ​class action lawsuit suggests that there may have been deficiencies in the company's internal controls and processes for communicating material information to shareholders.
9. Timing of Disclosures:
   • The Xerox ​lawsuit focuses on the timing of Xerox's disclosures, alleging that the company delayed revealing negative information that would have been material to investors.
   • This delay, according to the lawsuit, allowed Xerox to maintain an artificially inflated stock price during the Class Period.
10. Executive Responsibility:
    • The class action against Xerox implicates certain Xerox executives, suggesting that they were aware of or should have been aware of the undisclosed issues affecting the company's performance.
    • The complaint alleges that these executives participated in making false and misleading statements or failed to correct known false statements.

Timeline of Events Leading to the Xerox class action Lawsuit

1. January 25, 2024 - Beginning of the Class Period

1. The class period begins, marking the start of the timeframe during which the alleged misleading statements and omissions occurred.
2. Xerox likely made positive statements about its business prospects and financial outlook during this time.

2. Early 2024 - Salesforce Reorganization

• Xerox reportedly implemented a significant reorganization of its salesforce following a large workforce reduction.
• This reorganization involved new territory assignments and changes in account coverage.

3. Q1 2024 - Undisclosed Challenges

• The company allegedly experienced issues with salesforce productivity and lower-than-expected sell-through rates for older products.
• These challenges were purportedly not fully disclosed to investors at the time.

4. April 23, 2024 - First Quarter Results Announcement

• Xerox revealed disappointing financial results for Q1 2024:
  • Quarterly revenue down 12.4% year-over-year to $1.50 billion
  • Net loss of $113 million, a significant decline from the previous year
  • Equipment sales declined 25.8% year-over-year to $290 million
• The company attributed part of the decline to "geographic simplification" and admitted that its reinvention plan had been "initially disruptive to sales operations."
• Following this announcement, Xerox's stock price reportedly fell by more than 10%.

5. Mid-2024 - Ongoing Product Launch Delays

• Xerox allegedly continued to face difficulties in clearing out older inventory, leading to delays in launching new products.
• These delays were not fully communicated to shareholders, according to the lawsuit.

6. Q2 and Q3 2024 - Continued Challenges

• The company reportedly continued to experience issues with salesforce productivity and product launches.
• Investors were allegedly not fully informed about the extent of these ongoing challenges.

7. October 29, 2024 - Third Quarter Results Announcement

• Xerox disclosed further disappointing financial results:
  • Quarterly revenue down 7.5% year-over-year to $1.53 billion
  • Net loss of $1.2 billion, a substantial increase from the previous year
  • Equipment sales declined 12.2% year-over-year to $339 million
• The company revealed "lower-than-expected improvements in sales force productivity" and "delays in the global launch of two new products."
• In an earnings call, Xerox's Chief Operating Officer admitted to a "forecasting issue" related to the sell-through of older products.
• Following this announcement, Xerox's stock price reportedly fell by more than 17%.

8. October 28, 2024 - End of the Class Period

• The Class Period ends, marking the last day of the timeframe during which the alleged securities violations occurred.

9. November 2024 - Investor Concerns and Legal Action

• In the wake of the October 29 disclosures, investor concerns about Xerox's transparency and financial health intensified.

10. Late November 2024 - Filing of the Xerox ​class action lawsuit i

• The Xerox ​class action lawsuit was filed in the United States District Court for the Southern District of New York.
• The lawsuit alleged violations of federal securities laws based on the events and disclosures that occurred during the class period.

11. January 21, 2025 - Deadline for Lead Plaintiff Applications

• The deadline for investors to apply to be appointed as lead plaintiff in the Xerox class action lawsuit is January 21, 2024.

Options for Affected Investors in the Xerox class action lawsuit

Investors who purchased or acquired Xerox securities during the specified Class Period have several options to consider in light of the class action lawsuit. Understanding these options is crucial for affected shareholders to make informed decisions about protecting their interests and potentially recovering losses. Here's a comprehensive overview of the available courses of action.

1. Participate in the Xerox ​Class Action Lawsuit as a Class Member:

• Automatic Inclusion: Investors who purchased Xerox securities during the Class Period and suffered a loss are typically automatically included in the Class unless they choose to opt out.
• Passive Role: Class members can remain passive and wait for the outcome of the lawsuit. If successful, they may be eligible for a share of any settlement or judgment.
• No Upfront Costs: Class members generally do not incur any out-of-pocket expenses for participating in the lawsuit as most first including the Law Offices of Timothy L. Miles operate of a contingency fee basis.

2. Apply to Become Lead Plaintiff

• Deadline: Investors have until January 20, 2025, to apply to the court to be appointed as lead plaintiff in the Xerox ​class action lawsuit.
• Eligibility: The lead plaintiff is typically the investor or group of investors with the largest financial interest in the relief sought by the class.
• Responsibilities: The lead plaintiff takes a more active role in the litigation, including selecting lead counsel and making key decisions about the case.
• Potential Benefits: Providing input on any decision concerning the settlement of the securities class action

3. Opt Out of the Class Action

• Individual Lawsuit: Investors can choose to opt out of the Xerox ​class action lawsuit and pursue an individual lawsuit against Xerox.
• Potential Advantages: This option may be beneficial for investors with substantial losses who believe they can achieve a better outcome through individual litigation.
• Considerations: Opting out requires careful consideration of the costs, risks, and potential benefits of individual litigation compared to participating in the class action. In addition, if you opt out, you will not be able to participate in any settlement or judgment in the Xerox ​class action lawsuit.

4. Seek Individual Legal Advice

• Consult a Xerox Stock Loss Lawyer: Investors with significant losses or unique circumstances may benefit from consulting with a Xerox stock loss lawyer like Timothy L. Miles, an experiences and competent securities lawyer, to discuss their specific situation.
• Tailored Strategy: A Xerox stock loss lawyer can provide personalized advice on the best course of action based on individual circumstances and investment losses. Give Timothy L. Miles a call today for a free case evaluation. (855) 846–6529 or [email protected].

Eligibility Criteria for Lead Plaintiff Appointment in the Xerox Class Action Lawsuit

To be eligible for appointment as the lead plaintiff in the Xerox class action lawsuit class action lawsuit, an investor must meet the following criteria:

1. Securities Acquisition: The investor must have purchased or acquired Xerox Holdings Corporation (NASDAQ: XRX) securities between January 25, 2024, and October 28, 2024, inclusive.
2. Financial Losses: The investor must have suffered financial losses as a direct result of the alleged securities fraud perpetrated by Xerox, and its executives.
3. Typicality and Adequacy: The investor's legal claims must be typical of those asserted on behalf of the class, and they must demonstrate their ability to adequately represent the interests of the entire class through experience, resources, and the absence of conflicts of interest.

It is crucial to note that both domestic and international investors who meet these criteria are eligible to seek appointment as the lead plaintiff in the Xerox ​class action lawsuit, as courts have consistently recognized the rights of non-U.S. investors in securities class actions.

NO COST TO HIRE A Xerox Global STOCK LOSS LAWYER: CONTINGENCY FEE ARRANGEMENTS

If you suffered losses in Xerox stock, call Timothy L. Miles today for a free case evaluation

Many securities litigation attorneys, including Timothy L. Miles, operate on a contingency fee basis, which means clients do not pay any upfront fees or costs. Instead, the attorney's fees and expenses are deducted from any settlement or judgment recovered on behalf of the class, typically as a court-approved percentage of the total recovery.

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CONTACT TIMOTHY L MILES TODAY ABOUT A Xerox CLASS ACTION LAWSUIT

​If you suffered losses in Xerox​ stock, contact Xerox​ stock loss lawyer Timothy L. Miles today for a free case evaluation about a Xerox class action lawsuit. Call today and see what a Xerox​ stock loss lawyer could do for you if you suffered losses in Xerox​ ​stock. ​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. ​

FOR FURTHER INFORMATION OR ANY ADDITIONA QUESTIONS ABOUT THE XEROX CLASS ACTION LAWSUIT

Please contact Timothy L. Miles, at no charge, who would be happy to any questions you may be have about the lead plaintiff process or anything else about the case including your rights as a shareholder. You can reach Mr. Miles toll-free at (855) 846–6529 or via email at [email protected] or by submitting the contact form below or above or clicking on the "Contact Us" button on the side. This will be the only call you have to make.

(855) TIM-M-LAW (855) 846-6529

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XEROX CLASS ACTION LAWSUIT
XEROX STOCK LOSS LAWYER
TIMOTHY L. MILES
300 CENTERVIEW DR, UNIT 247
BRENTWOOD, TN 27027
​855-846-6528