Market Overview

July 10 Deadline Alert: GPM Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Rackspace Hosting, Inc.


Prongay & Murray LLP
("GPM") reminds investors of the July
10, 2017
 deadline to file a lead plaintiff motion in the class
action 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 in this class action. To
obtain information or participate in the class action, please visit the
Rackspace page on our website at

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.

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If you purchased shares of Rackspace during the Class Period you may
move the Court no later than July 10, 2017, to request
appointment as lead plaintiff in this putative class action lawsuit. To
be a member of the class action 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 action. If you wish to learn more about
this class action, or if you have any questions concerning this
announcement or your rights or interests with respect to the pending
class action lawsuit, 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.

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