NEW YORK, April 01, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Nutanix, Inc. (NTNX) securities between March 2, 2018 and February 28, 2019 (the “Class Period”). Investors have until May 28, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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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.
On this news, Nutanix’s stock price fell by more than 30%, closing at $33.70 on March 1, 2019. The complaint further alleges that Nutanix senior officers, including its Chief Revenue Officer, took advantage of these false statements by selling Nutanix common stock at inflated prices.
If you purchased Nutanix securities during the Class Period or continue to hold shares purchased before the Class Period, 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 Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Nutanix lawsuit, please go to https://bespc.com/ntnx/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.