Rackspace Hosting, Inc.

Shareholder Corporation Litigation

Rigrodsky & Long, P.A. Announces Investigation Of Rackspace Hosting, Inc. (NYSE: RAX) Buyout

Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Rackspace Hosting, Inc. (“Rackspace” or the “Company”) (NYSE: RAX) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by affiliates of certain funds (the "Apollo Funds") managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo") (NYSE: APO), in a transaction valued at approximately $4.3 billion.

Under the terms of the agreement, shareholders of Rackspace will receive $32.00 in cash for each share of Rackspace common stock.

The investigation concerns whether Rackspace’s board of directors failed to adequately shop the Company and obtain the best possible value for Rackspace shareholders before entering into an agreement with Apollo.

If you own the common stock of Rackspace and purchased your shares before August 26, 2016, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.

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