Robbins LLP is Investigating Allegations that TELUS International (Cda) Inc. (TIXT) Misled Investors Regarding its Business Prospects

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 purports to design, build, and deliver digital solutions for customer experience, including artificial intelligence (“AI”) services, cloud solutions, and user experience/user interface design.

The Allegations

According to the complaint, during the class period, defendants failed to disclose to investors: (1) the Company’s AI Data Solutions offerings required the cannibalization of its higher-margin offerings; (2) that TELUS International’s declining profitability was tied to the Company’s drive to develop AI capabilities; (3) that TELUS International’s shift toward AI put greater pressure on the Company’s margins than previously disclosed; and (4) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

When the truth was revealed, the Company’s share price fell $2.33 or 35.96%, to close at $4.15 on August 2, 2024. The stock continued to decline the next trading day available, falling $0.83, or 20%, to close at $3.32 on August 5, 2024.

What Now: You may be eligible to participate in the class action against TELUS International (Cda) Inc. Shareholders who want to serve as lead plaintiff for the class must file papers with the court by March 31, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.  You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.