TELUS International Under Investigation for Potential Securities Fraud Related to AI Solutions
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TELUS International (Cda) Inc. Investors: Company Investigated by the Portnoy Law Firm
Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Jan. 16, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises TELUS International (Cda) Inc. ("TELUS" or "the Company") (NYSE: "TIXT"; ISIN: CA87975H1001) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. TELUS investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims to recover their losses. TELUS, based in Vancouver, BC, is a global leader in providing digital solutions aimed at enhancing customer experience (CX), including services like AI-driven tools, chatbots, and customer support solutions such as work-from-home and contact center outsourcing. The company is publicly traded on the NYSE and TSX, and its securities are also available on the over-the-counter market in Europe. Berger Montague is investigating whether TELUS and its top executives misled investors about the company's financial performance, particularly regarding its AI solutions, between February 16, 2023, and August 1, 2024. This investigation is part of an ongoing shareholder lawsuit. Following TELUS's disclosures on August 1, 2024, the company's stock price saw a dramatic drop, falling from a closing price of $6.48 per share on August 1 to $4.15 per share by August 2. The price continued to decline, closing at $3.32 per share on August 5, marking a total decrease of $3.16 per share, or more than 48%. Please visit our website to review more information and submit your transaction information. The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm's founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes. Lesley F. Portnoy, Esq. Admitted CA, NY and TX Bars [email protected] 310-692-8883 www.portnoylaw.com Attorney Advertising Market News and Data brought to you by Benzinga APIs
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INVESTIGATION ALERT: Berger Montague PC is Investigating Securities Fraud Claims on Behalf of Investors in TELUS International (Cda) Inc.
PHILADELPHIA, Jan. 16, 2025 /PRNewswire/ -- Berger Montague PC is currently investigating potential violations of the federal securities laws on behalf of investors in TELUS International (Cda) Inc. ("TELUS" or the "Company") (NYSE: "TIXT"; ISIN: CA87975H1001). TELUS, headquartered in Vancouver, BC, is a global provider of digital solutions for customer experience (CX), including digital experience solutions, such as AI and bots, and customer experience solutions, such as work anywhere/work from home and contact center outsourcing. It lists its securities on the NYSE and TSX, and there is an over-the-counter market in Europe. Berger Montague's investigation is focused on whether TELUS and its senior executives misled investors regarding the Company's financial performance, specifically with regard to its AI solutions, during the period of February 16, 2023 through August 1, 2024, as reflected in a pending shareholder lawsuit.
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TELUS International, a global provider of digital customer experience solutions, is facing investigations and potential class action lawsuits over alleged misleading statements about its financial performance, particularly concerning its AI solutions.
TELUS International Faces Legal Scrutiny Over AI-Related Financial Disclosures
TELUS International (Cda) Inc., a Vancouver-based global provider of digital customer experience solutions, is currently under investigation for potential securities fraud. The company, which specializes in AI-driven tools, chatbots, and customer support solutions, is facing scrutiny from multiple law firms regarding its financial disclosures, particularly those related to its AI solutions 12.
Investigation Details and Allegations
The Portnoy Law Firm and Berger Montague PC have both initiated investigations into TELUS International's practices. These investigations focus on whether the company and its senior executives misled investors about its financial performance, specifically concerning its AI solutions, during the period from February 16, 2023, through August 1, 2024 12.
The allegations stem from disclosures made by TELUS on August 1, 2024, which led to a dramatic drop in the company's stock price. Following these disclosures, TELUS's stock fell from $6.48 per share on August 1 to $4.15 per share by August 2, and further declined to $3.32 per share by August 5. This represents a total decrease of $3.16 per share, or more than 48% 1.
Impact on Investors and Legal Actions
The significant stock price drop has prompted legal firms to investigate potential violations of federal securities laws. The Portnoy Law Firm has indicated that it may file a class action lawsuit on behalf of affected investors 1. Similarly, Berger Montague PC is investigating the matter as reflected in a pending shareholder lawsuit 2.
Investors who have lost money on their TELUS International investments are being encouraged to contact these law firms to discuss their legal rights and options for pursuing claims to recover their losses 12.
TELUS International's Business and Market Position
TELUS International is a key player in the digital solutions market, offering services that enhance customer experience (CX). The company's offerings include AI-driven tools, chatbots, and customer support solutions such as work-from-home and contact center outsourcing 12.
The company's securities are listed on both the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX), with the ticker symbol "TIXT". Additionally, there is an over-the-counter market for TELUS International securities in Europe 12.
Broader Implications for AI in Business
This investigation highlights the growing importance of AI solutions in the business world, particularly in customer experience management. It also underscores the need for transparency and accuracy in financial reporting related to AI technologies, as investors increasingly scrutinize companies' claims about their AI capabilities and performance.
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