IRVINE, CA / ACCESSWIRE / December 8, 2016 / Khang & Khang LLP (the "Firm") announces a class action lawsuit against Xerox Corporation ("Xerox" or the "Company") (NYSE: XRX). Investors who purchased or otherwise acquired shares between April 23, 2012 and October 23, 2015 inclusive (the "Class Period"), are encouraged to contact the Firm in advance of the December 23, 2016 lead plaintiff motion deadline.
If you purchased Xerox shares during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
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 emerged to the public, the stock price of Xerox fell, causing investors serious harm.
If you wish to learn more about this lawsuit, at no charge to you, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.
This press release may constitute Attorney Advertising in some jurisdictions.
Contact:
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com
SOURCE: Khang & Khang LLP
ReleaseID: 450702
