Court Grants Exela’s Motion to Dismiss Class Action Lawsuit

IRVING, Texas, June 25, 2021 (GLOBE NEWSWIRE) – Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA), a global leader in business process automation (BPA), announced today that U.S. District Judge Jud Sydney A. Fitzwater has upheld Exela’s motion to dismiss all of its class action lawsuit filed in March 2020 against Texas securities.

Plaintiffs have until August 5 to file an amended complaint to address the shortcomings set out in the court’s June 24 dismissal order.

About Exela Technologies

Exela Technologies is a leading business process automation (BPA) company leveraging a global presence and proprietary technology to deliver digital transformation solutions that improve quality, productivity and end-user experience. With decades of experience in operating business-critical processes, Exela serves a growing customer base of more than 4,000 customers in 50 countries, including over 60% of the Fortune® 100.

With fundamental technologies that include information management, workflow automation and integrated communications, Exela’s software and services include cross-industry solution suites for finance and accounting, human capital management and legal management, as well as industry-specific solutions for banking, healthcare, insurance and the public sector. Via cloud-enabled platforms based on a configurable stack of automation modules and over 19,000 employees in 23 countries, Exela, as a continuous digital travel partner, quickly provides integrated technologies and processes.

Forward-Looking Statements

Certain statements in this press release are not historical facts but forward-looking statements within the meaning of the safe harbor under The Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally made up of words such as “may”, “should”, “would” , “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potentially”, “seem”, “seek”, “continue”, “future”, “will”, ” expect, “” look out, or other similar word, phrase, or phrase. These forward-looking statements include statements about our industry, future events, estimated or expected future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including those discussed under the heading “Risk Factors” in Exela’s annual report and other securities documents. Additionally, forward-looking statements reflect Exela’s expectations, plans or projections of future events and beliefs as of the date of this release. Exela assumes that subsequent events and developments will lead to a change in Exela’s assessments. These forward-looking statements should not be taken as representing Exela at any time after the date of this press release.

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Investor and / or media contacts:

Vincent Kondaveeti
E: [email protected]
T: 929-620-1849

Mary Beth Benjamin
E: [email protected]
T: 646-277-1216

Source: Exela Technologies, Inc.

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