On January 16, 2025, Kirby McInerney LLP announced an investigation into potential claims against TELUS International (Cda) Inc. (TIXT) on behalf of investors. This follows the filing of a securities class action lawsuit alleging that the company and certain officers violated federal securities laws. The lawsuit covers securities purchased between February 16, 2023, and August 1, 2024.
The complaint alleges that TELUS International made materially false and/or misleading statements and failed to disclose adverse facts about its business, operations, and prospects. Specifically, it claims that the company's AI Data Solutions offerings required the cannibalization of its higher-margin offerings. Furthermore, the lawsuit states that TELUS International's declining profitability was tied to its drive to develop AI capabilities.
The complaint also asserts that the company's shift toward AI placed greater pressure on its margins than previously disclosed to investors. These allegations suggest that positive statements about the company's business, operations, and prospects during the class period were materially misleading or lacked a reasonable basis.
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