TELUS International Faces Class Action Lawsuit Over AI-Related Financial Disclosures
17 Sources
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Shareholders of TELUS International (Cda) Inc. Should Contact Levi & Korsinsky Before March 31, 2025 to Discuss Your Rights - TIXT - TELUS Intl (NYSE:TIXT)
NEW YORK, Feb. 07, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in TELUS International (Cda) Inc. ("TELUS International" or the "Company") TIXT of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of TELUS International
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Levi & Korsinsky Reminds Shareholders of a Lead Plaintiff Deadline of March 31, 2025 in TELUS International Lawsuit - TIXT - TELUS Intl (NYSE:TIXT)
NEW YORK, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in TELUS International (Cda) Inc. ("TELUS International" or the "Company") TIXT of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of TELUS International
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Shareholders that lost money on TELUS International (Cda) Inc. (TIXT) should contact The Gross Law Firm about pending Class Action - TIXT - TELUS Intl (NYSE:TIXT)
NEW YORK, Feb. 06, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of TELUS International (Cda) Inc. TIXT. Shareholders who purchased shares of TIXT during the class period listed are encouraged to contact the firm regarding possible lead plaintiff
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TIXT INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that TELUS International (Cda) Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - TELUS Intl (NYSE:TIXT)
NEW YORK, Feb. 02, 2025 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against TELUS International (Cda) Inc. ("TELUS" or "the Company") TIXT and certain of its
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Deadline Alert: TELUS International (Cda) Inc. (TIXT) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit - TELUS Intl (NYSE:TIXT)
Glancy Prongay & Murray LLP reminds investors of the upcoming March 31, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired TELUS International (Cda) Inc. ("Telus International" or the "Company") TIXT securities between
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Deadline Alert: TELUS International (Cda) Inc. (TIXT) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit - TELUS Intl (NYSE:TIXT)
LOS ANGELES, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP reminds investors of the upcoming March 31, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired TELUS International (Cda) Inc. ("Telus
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Levi & Korsinsky Notifies TELUS International (Cda) Inc. Investors of a Class Action Lawsuit and Upcoming Deadline - TIXT
https://zlk.com/pslra-1/telus-international-lawsuit-submission-form?prid=126758&wire=4 TIXT investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. CASE DETAILS: The filed complaint alleges that defendants made false statements
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TELUS International (Cda) Shareholder Alert: Shareholder Rights Law Firm Robbins LLP Reminds Investors of the Class Action Against TIXT - TELUS Intl (NYSE:TIXT)
SAN DIEGO, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Robbins LLP reminds stockholders that a class action was filed on behalf of persons and entities that purchased or otherwise acquired TELUS International (Cda) Inc. TIXT securities between February 16, 2023 and August 1, 2024. TELUS International
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Deadline Approaching: TELUS International (Cda) Inc. (TIXT) Investors Who Lost Money Urged to Contact Law Offices of Howard G. Smith - TELUS Intl (NYSE:TIXT)
Law Offices of Howard G. Smith reminds investors of the upcoming March 31, 2025 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased TELUS International (Cda) Inc. ("Telus International" or the "Company") TIXT securities between February 16, 2023 and
[10]
Law Offices of Howard G. Smith Encourages TELUS International (Cda) Inc. (TIXT) Investors to Inquire About Securities Fraud Class Action - TELUS Intl (NYSE:TIXT)
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased TELUS International (Cda) Inc. ("Telus International" or the "Company") TIXT securities between February 16, 2023 and August 1, 2024, inclusive (the "Class Period"). Telus
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Law Offices of Frank R. Cruz Encourages TELUS International (Cda) Inc. (TIXT) Investors To Inquire About Securities Fraud Class Action - TELUS Intl (NYSE:TIXT)
The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of investors who purchased TELUS International (Cda) Inc. ("Telus International" or the "Company") TIXT securities between February 16, 2023 and August 1, 2024, inclusive (the "Class Period"). Telus
[12]
TIXT CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit On Behalf Of TELUS International (Cda) Inc. Investors - TELUS Intl (NYSE:TIXT)
Glancy Prongay & Murray LLP ("GPM"), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Sarria v. TELIS International (Cda) Inc., et al., Case No. 1:25-cv-00889, on behalf of persons and entities that purchased or
[13]
DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of TELUS International (Cda)
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Telus International To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 in Telus International between February 16, 2023 and
[14]
INVESTOR ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of TELUS International (Cda) - TELUS Intl (NYSE:TIXT)
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Telus International To Contact Him Directly To Discuss Their Options If you purchased securities in Telus International between February 16, 2023 and August 1, 2024 and would like to
[15]
TIXT Investors Have Opportunity to Lead TELUS International (Cda) Inc. Securities Fraud Lawsuit with the Schall Law Firm
LOS ANGELES, Feb. 4, 2025 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against TELUS International (Cda) Inc. ("Telus" or "the Company") (NYSE: TIXT) for violations of §§10(b) and 20(a) of the Securities Exchange Act
[16]
Shareholder Notice: Robbins LLP Informs Stockholders of the TELUS International (Cda) Inc. Class Action
SAN DIEGO, Feb. 3, 2025 /PRNewswire/ -- Robbins LLP informs stockholders that a class action was filed on behalf of persons and entities that purchased or otherwise acquired TELUS International (Cda) Inc. (NYSE: TIXT) securities between February 16, 2023 and August 1, 2024. TELUS International
[17]
DEADLINE ALERT for IAS and TIXT: The Law Offices of Frank R. Cruz Reminds Investors of Class Actions on Behalf of Shareholders - TELUS Intl (NYSE:TIXT), Integral Ad Science (NASDAQ:IAS)
LOS ANGELES, Jan. 31, 2025 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff
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Multiple law firms have filed class action lawsuits against TELUS International, alleging the company misled investors about the impact of its AI initiatives on its financial performance.
TELUS International Faces Legal Challenges Over AI Strategy
TELUS International (Cda) Inc., a global customer experience and digital solutions provider, is facing multiple class action lawsuits alleging that the company misled investors about the impact of its artificial intelligence (AI) initiatives on its financial performance. The lawsuits, filed by several prominent law firms, seek to recover losses on behalf of investors who purchased TELUS International securities between February 16, 2023, and August 1, 2024
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.Allegations of Misleading Statements
The complaints allege that TELUS International and certain of its officers made materially false and/or misleading statements and failed to disclose material adverse facts about the company's business operations and prospects. Specifically, the lawsuits claim that:
- The company's AI Data Solutions offerings required the cannibalization of its higher-margin offerings.
- TELUS International's declining profitability was tied to its drive to develop AI capabilities.
- The shift toward AI put greater pressure on the company's margins than previously disclosed
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Financial Performance and Disclosures
The legal actions were triggered by a series of financial disclosures and events:
- On May 9, 2024, TELUS International reported a $29 million decline in revenue year-over-year for the first quarter of 2024
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. - During an earnings call, the company's CFO revealed that margins generated by AI offerings "can be a bit below average"
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. - On August 2, 2024, the company released second-quarter results showing a significant slowdown in revenue generation and reduced its full-year 2024 fiscal guidance
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Management Changes and Strategic Shift
Amidst these financial challenges, TELUS International announced that Jeff Puritt, then-President and CEO, would retire effective September 3, 2024. During his final earnings call, Puritt acknowledged that the company's transition towards a more technology-centric and AI-fueled business "necessitates some cannibalization of our tenured and higher margin CX work"
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.Related Stories
Legal Proceedings and Investor Impact
Multiple law firms, including Levi & Korsinsky, The Gross Law Firm, Bronstein, Gewirtz & Grossman, and Glancy Prongay & Murray, have filed class action lawsuits and are seeking lead plaintiffs
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. The deadline for investors to file for lead plaintiff status is March 31, 2025.Market Reaction
The market reacted strongly to these developments:
- On May 9, 2024, TELUS International's share price fell 18.15% to close at $6.36
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. - On August 2, 2024, following the second-quarter results and management change announcement, the stock price plummeted 35.96% to $4.15, with an additional 20% drop to $3.32 on the next trading day
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As these legal proceedings unfold, investors and industry observers will be closely watching the impact on TELUS International's business strategy, particularly its AI initiatives, and the broader implications for companies navigating the integration of AI technologies into their core operations.
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