The complaint alleges that Alight repeatedly expressed confidence in growth, execution, and dividend continuity despite issuing disappointing results, cutting projections, and recording multiple goodwill impairments. On August 5, 2025, Alight reported weak Q2 results, lowered full-year revenue guidance, cited slowdowns in recurring revenue bookings and worse-than-expected project revenue declines (blaming macroeconomic uncertainty and poor execution it had previously downplayed), causing the stock to drop about 18.3% in one day from $5.13 to $4.19. On February 19, 2026, the company announced a major earnings miss, further booking and revenue shortfalls, blamed prior management's execution failures, suspended the dividend, and increased compensation costs, leading to a nearly 38% single-day decline from $1.31 to $0.81, with the stock down roughly 90% overall during the class period.
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