Rackspace Technology, Inc. investors who bought securities between May 7, 2026 and July 8, 2026 have until Sept. 28, 2026 to seek appointment as lead plaintiff in a securities fraud class action, Kirby McInerney LLP said in a Globe Newswire release dated Aug. 12, 2026. The complaint alleges Rackspace misled investors by failing to disclose that its enterprise AI push would require a major shift of capacity and capital away from the profitable Private Cloud segment, that Public Cloud revenue was falling as customers contracted directly with hyperscale cloud platforms, that the company was likely to cut a material portion of its Public Cloud infrastructure resale business, and that those factors would significantly affect fiscal 2026 revenue. The release points to Rackspace's May 7, 2026 AMD partnership announcement and reaffirmed 2026 guidance, its June 16, 2026 workforce realignment with a 15% staff reduction and projected annualized run-rate savings of $75 million to $85 million, and its July 9, 2026 second-quarter results, when the company cut full-year revenue guidance by $150 million, lowered its Private Cloud outlook by $25 million and reduced its Public Cloud revenue estimate by $125 million. Rackspace shares fell $2.21, or 33.6%, to close at $4.37 on July 9, 2026, after the disclosures. Kirby McInerney said investors can contact Lauren Molinaro, Esq. at no cost to discuss their rights or interests in the case.