Market Overview

Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of Rackspace Hosting, Inc. Investors and Encourages Investors to Contact the Firm


Prongay & Murray LLP
("GPM") announces that a class action
lawsuit has been filed on behalf of investors who purchased Rackspace
Hosting, Inc. ("Rackspace" or the "Company") (NYSE: RAX)
securities between November 11, 2014 and August 10, 2015,
inclusive (the "Class Period"). Rackspace investors have until July
10, 2017
 to file a lead plaintiff motion.

Investors suffering losses on their Rackspace investments are encouraged
to contact Lesley Portnoy of GPM to discuss their legal rights in this
class action at 310-201-9150 or by email to

According to the complaint filed in this class action lawsuit,
defendants throughout the Class Period made false and/or misleading
statements and/or failed to disclose that: (1) Vodafone initiated
extensive data migration away from Rackspace servers, signaling
Vodafone's intent to replace Rackspace with alternative providers on the
contract's April 1, 2015 expiration date; (2) the failure to secure a
renewal of the Vodafone Contract would have a significant near-term
financial impact on Rackspace's 2015 recurring revenues; and (3) as a
result, defendants lacked a reasonable basis for their positive
statements about Rackspace and its growth prospects.

If you purchased shares of Rackspace during the Class Period you may
move the Court no later than July 10, 2017 to ask the Court
to appoint you as lead plaintiff if you meet certain legal requirements.
To be a member of the Class you need not take any action at this time;
you may retain counsel of your choice or take no action and remain an
absent member of the Class. If you wish to learn more about this action,
or if you have any questions concerning this announcement or your rights
or interests with respect to these matters, please contact Lesley
Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los
Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by
email to,
or visit our website at
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at