NEW YORK, NY / ACCESSWIRE / May 23, 2019 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
Nutanix, Inc. (NTNX)
Investors Affected : Class A shares purchased between March 2, 2018 and February 28, 2019
A class action has commenced on behalf of certain shareholders in Nutanix, Inc. The complaint concerns whether the Company and its executives violated federal securities laws by making false and/or misleading statements about its investments in growth and its maintenance of 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 share price fell from $50.09 per share on February 28, 2019 to a closing price of $33.70 on March 1, 2019.
Shareholders may find more information at https://securitiesclasslaw.com/securities/nutanix-inc/?id=1636&from=1
The Boeing Company (BA)
Investors Affected : January 8, 2019 - March 21, 2019
A class action has commenced on behalf of certain shareholders in The Boeing Company. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Boeing's 737 MAX airplanes were not as safe as previous models, therefore Boeing included undisclosed "hacks" created by engineering compromises and the lack of safety features which Boeing sold as "optional" add-ons which were designed to help address these safety concerns; (2) most airlines did not purchase these safety "options"; (3) the Federal Aviation Administration granted Boeing its own oversight and certification of Boeing's new flight control system, or Maneuvering Characteristics Augmentation Systems, which was a clear conflict of interest as Boeing was rushing the 737 MAX airplanes to market; and (4) as a result of the foregoing, Boeing's public statement were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Shareholders may find more information at https://securitiesclasslaw.com/securities/the-boeing-company/?id=1636&from=1
Lyft, Inc. (LYFT)
Investors Affected : pursuant or traceable to the Company's Offering and Registration Statement issued in relation to the March 28, 2019 IPO
A class action has commenced on behalf of certain shareholders in Lyft, Inc. According to the lawsuit, Lyft's Offering materials issued in connection with its IPO failed to disclose that: (1) Lyft's claimed ridesharing position was overstated; (2) more than 1,000 of the bicycles in Lyft's rideshare program suffered from safety issues that would lead to their recall; (3) Lyft's drivers were becoming disincentivized from driving for Lyft; (4) Lyft failed to warn investors that a labor disruption could affect its operations; and (5) as a result, Lyft's public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/lyft-inc-loss-submission-form/?id=1636&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm
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