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Rackspace Technology, executives named in securities fraud lawsuit over AI strategy — Photo: KSAT 12

GeneralSan Antonio

Rackspace Technology, executives named in securities fraud lawsuit over AI strategy

San Antonio-based Rackspace Technology and its executives have been named in a securities fraud lawsuit alleging they misled investors about their artificial intelligence strategy and its financial impact.

By Shay Khan, San Antonio Business Journal·3 hr ago

A securities fraud class-action lawsuit has been filed against San Antonio-based Rackspace Technology Inc. and senior executives, which were unnamed.

The complaint alleges the company misled investors about its artificial intelligence strategy and the impact those investments would have on the company's financial performance.

Bleichmar Fonti & Auld LLP announced Aug. 4 that the lawsuit was filed in the U.S. District Court for the Southern District of New York.

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