SAN DIEGO & SAN JOSE, Calif.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24NTNX&src=ctag” target=”_blank”gt;$NTNXlt;/agt; lt;a href=”https://twitter.com/hashtag/ClassAction?src=hash” target=”_blank”gt;#ClassActionlt;/agt;–Shareholder rights law firm Robbins
Arroyo LLP announces that investors filed a class action complaint
against Nutanix, Inc. (NASDAQ: NTNX) for alleged violations of the
Securities Exchange Act of 1934 pursuant to March 2, 2018 and February
28, 2019. Nutanix is an enterprise cloud platform provider.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/nutanix-inc/
Nutanix Accused of Misleading Investors
According to the complaint, Nutanix executives repeatedly reassured
investors of the company’s pipeline strategy by noting the development
and growth of its global sales force in various filings and conference
calls. However, Nutanix failed to disclose that it had reallocated lead
generation spending to other priorities. This decision caused a large
disruption in Nutanix’s sales execution, which negatively impacted
Nutanix’s sales pipeline and sales growth. 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. Additionally, Nutanix acknowledged that, despite earlier
contrary assertions, its product portfolio was in “chaos.” On this news,
Nutanix’s stock price fell $16.39 per share, more than 32%, to close at
$33.70 per share on March 1, 2019.
Nutanix Shareholders Have Legal Options
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, [email protected],
or via the shareholder
information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
Contacts
Leonid Kandinov
Robbins Arroyo LLP
600 B Street, Suite 1900
San
Diego, CA 92101
[email protected]
(619)
525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
