According to the Complaint, Xerox Holdings Corporation and its subsidiaries offer workplace technology that integrates hardware, services, and software for enterprises in the Americas, and internationally. This lawsuit was filed against Xerox and two of its Officers.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that, after a large workforce reduction, the Company’s salesforce was reorganized with new territory assignments and account coverage; (2) that, as a result, the Company’s salesforce productivity was disrupted; (3) that, as a result, the Company had a lower rate of sell-through of older products; (4) that the difficulties in flushing out older product would delay the launch of key products; (5) that, as a result, Xerox was likely to experience lower sales and revenue; and (6) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.