NTNX INVESTORS REMINDER: Lieff Cabraser Reminds Investors of Deadline in Class Action Against Nutanix, Inc.
May 16 2019 - 9:00AM
Business Wire
The law firm of Lieff Cabraser Heimann & Bernstein, LLP
reminds investors of the upcoming deadline to move for appointment
as lead plaintiff in the class action litigation has been filed on
behalf of investors who purchased or otherwise acquired the
securities of Nutanix, Inc. (“Nutanix” or the “Company”) (Nasdaq:
NTNX) between March 2, 2018 and February 28, 2019, inclusive (the
“Class Period”).
If you purchased or otherwise acquired Nutanix securities during
the Class Period, you may move the Court for appointment as lead
plaintiff by no later than May 28, 2019. A lead plaintiff is a
representative party who acts on behalf of other class members in
directing the litigation. Your share of any recovery in the actions
will not be affected by your decision of whether to seek
appointment as lead plaintiff. You may retain Lieff Cabraser, or
other attorneys, as your counsel in the actions.
Nutanix investors who wish to learn more about the litigation
and how to seek appointment as lead plaintiff should click here or
contact Sharon M. Lee of Lieff Cabraser toll-free at
1-800-541-7358.
Nutanix, incorporated in Delaware and headquartered in San Jose,
California, is a cloud-computing software company that provides
information technology infrastructure solutions for corporate and
governmental clients. Nutanix’s software includes an information
technology platform that integrates enterprise-level access to both
private and public clouds.
The action alleges that from March 2, 2018 through February 28,
2019, inclusive (the “Class Period”), Defendants made repeated
statements that the Company was investing heavily in growth and
increasing its sales and marketing activities while maintaining
high profit margins. Recent disclosures revealed that Defendants’
statements were false and/or misleading, and/or that Defendants
failed to disclose that: (i) Defendants did not increase Nutanix’s
lead generation spending during the Class Period, and in fact
decreased such spending; and (ii) as a result, the growth of the
Company’s business was unsustainable and its financial earnings
projections were misleading.
After the market closed on February 28, 2019, Nutanix issued a
press release and held a conference call announcing its financial
results for the second fiscal quarter of 2019 and guidance for the
third quarter. On the call, the Company’s founder and Chief
Executive Officer Dheeraj Pandey and its Chief Financial Officer
Duston M. Williams revealed that despite earlier statements that
Nutanix was investing in sales and marketing and growing the
business, the Company had held flat or decreased spending on lead
generation—a “key component” to developing its sales pipeline.
On this news, the price of Nutanix’s stock fell by $16.39 per
share, or 32.7%, from a closing price of $50.09 per share on
February 28, 2019, to close at $33.70 per share on March 1, 2019,
on extremely elevated trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San
Francisco, New York, and Nashville, is a nationally recognized law
firm committed to advancing the rights of investors and promoting
corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for fourteen years. In
compiling the list, the National Law Journal examines recent
verdicts and settlements and looked for firms “representing the
best qualities of the plaintiffs’ bar and that demonstrated unusual
dedication and creativity.” Law360 has selected Lieff Cabraser as
one of the Top 50 law firms nationwide for litigation, highlighting
our firm’s “laser focus” and noting that our firm routinely finds
itself “facing off against some of the largest and strongest
defense law firms in the world.” In late 2016, Benchmark Litigation
named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in
America.”
For more information about Lieff Cabraser and the firm’s
representation of investors, please visit
http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190516005183/en/
Source/Contact for Media Inquiries OnlySharon M. LeeLieff
Cabraser Heimann & Bernstein, LLPTelephone: 1-800-541-7358
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