DXC Technology Sued Over ‘Transformation Journey,’ Stock Drops

DXC Technology Co. touted a “transformation journey” to reduce costs associated with its acquisition of other companies, but that effort undermined its goals for integrating the businesses and led to stock-price declines, an investor alleges.

The sudden departure of the technology services company’s CEO and board chair, Michael Salvino, in December 2023 also prompted a selloff, the Roofers’ Pension Fund says in a proposed class action. It filed its suit Aug. 2 in the US District Court for the Eastern District of Virginia.

DXC fought off previous securities suits over the 2017 merger that created the company—a union between a ...