Cases
Nutanix, Inc. (NTNX)
Securities Class Action
Overview
Overview
- Date:
- 6/27/2019
- Company Name:
- Nutanix, Inc.
- Stock Symbol:
- NTNX
- Status:
- Closed/Complete
NEW YORK, June 27, 2019 – Bragar Eagel & Squire, P.C. is investigating potential claims against Nutanix, Inc. (NASDAQ: NTNX). Our investigation follows a class action complaint filed against Nutanix and concerns whether certain officers or directors of Nutanix have violated the federal securities laws and/or engaged in other unlawful business practices.
The complaint alleges that Beginning on March 2, 2018, Nutanix and its senior executives made repeated statements that Nutanix was investing heavily in growth while maintaining 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. As a result of this news, Nutanix's stock price fell on March 1, 2019, by $16.39 per share or 33% on very heavy volume. Nutanix senior officers, including its Chief Revenue Officer, took advantage of these false statements by selling Nutanix common stock at inflated prices.
If you are a long term stockholder of Nutanix continuously holding shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The complaint alleges that Beginning on March 2, 2018, Nutanix and its senior executives made repeated statements that Nutanix was investing heavily in growth while maintaining 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. As a result of this news, Nutanix's stock price fell on March 1, 2019, by $16.39 per share or 33% on very heavy volume. Nutanix senior officers, including its Chief Revenue Officer, took advantage of these false statements by selling Nutanix common stock at inflated prices.
If you are a long term stockholder of Nutanix continuously holding shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.