Glancy Prongay & Murray LLP (GPM), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired Nutanix, Inc. (Nutanix or the Company) (NASDAQ: NTNX) securities between March 2, 2018 and February 28, 2019, inclusive (the Class Period). Nutanix investors have until May 28, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected], or visit our website at www.glancylaw.com.
On February 28, 2019, in a press release announcing the Companys second quarter 2019 financial results, Nutanix advised investors that its third quarter 2019 guidance reflects the impact of inadequate marketing spending for pipeline generation and slower than expected sales hiring. During a conference call later that day, the Company disclosed that lead generation remained flat or declined, despite previous representations that the Company had been growing its business through investments in sales and marketing.
On this news, shares of Nutanix fell $16.39 per share, or over 32%, to close at $33.70 on March 1, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Companys business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Companys lead generation spending remained flat or declined; (2) the Company was not increasing its sales and marketing activities; (3) that the Companys financial results were driven by reduced lead generation spend, rather than improved operations; and (4) as a result, defendants’ public statements were materially false and misleading at all relevant times.
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If you purchased shares of Nutanix during the Class Period you may move the Court no later than May 28, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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