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 shares between March 2, 2018 and February 28, 2019.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: The complaint concerns whether the Company and its executives violated federal securities laws by making false and/or misleading statements about its investments in growth and its maintenance of high profit margins. On February 28, 2019, Nutanix announced its second quarter fiscal 2019 results and reported third quarter guidance that was below analysts' expectations. Management acknowledged that "inadequate marketing spend for pipeline generation and slower than expected sales hiring" were the reasons for the weak guidance. On this news, Nutanix's share price fell from $50.09 per share on February 28, 2019 to a closing price of $33.70 on March 1, 2019.
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 May 28, 2019 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.