The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Nutanix, Inc. who purchased put options and/or call options between November 30, 2017 and May 30, 2019.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that they: 1) knowingly concealed from investors that Nutanix’s purported strong sales hiring was woefully inadequate because a large portion of the Company’s hiring was to replace sales representatives who were leaving, rather than growing the sales force needed to achieve targeted revenue growth; 2) made the undisclosed decision to keep critical spending for lead generation activities “flat” so that Nutanix could divert those funds to the research and development of its public cloud product; and 3) told investors that Nutanix had “experienced record sales productivity”, despite their knowledge to the contrary.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until August 10, 2021 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.