According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- after a large workforce reduction, Xerox’s salesforce was reorganized with new territory assignments and account coverage;
- as a result, Xerox’s salesforce productivity was disrupted;
- as a result, Xerox had a lower rate of sell-through of older products;
- the difficulties in flushing out older product would delay the launch of key products;
- as a result, Xerox was likely to experience lower sales and revenue; and
- as a result of the foregoing, defendants’ positive statements about Xerox’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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