NEW ORLEANS, May 17, 2019 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 28, 2019 to file lead plaintiff applications in a securities class action lawsuit against Nutanix, Inc. (NasdaqGS: NTNX), if they purchased the Company’s shares between March 2, 2018 and February 28, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
Nutanix investors should visit us at https://www.claimsfiler.com/cases/view-nutanix-inc-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Nutanix and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 28, 2019, the Company disclosed 2Q 2019 financial results and 3Q guidance below analysts’ expectations due to “inadequate marketing spend for pipeline generation and slower than expected sales hiring,” which contradicted the Company’s prior statements that it was investing heavily in growth and was increasing sales and marketing activities while maintaining high profit margins.
On this news, the price of Nutanix’s shares plummeted.
The case is Scheller v. Nutanix, Inc. et al., No. 19-cv-01651.
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