NEW YORK, NY / ACCESSWIRE / May 9, 2019 / Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Nutanix, Inc. ("Nutanix" or the "Company")(NTNX) of the May 28, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Nutanix stock or options between March 2, 2018 and February 28, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/NTNX. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
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Attn: Richard Gonnello, Esq.
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The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Nutanix Common Stock between March 2, 2018 and February 28, 2019 (the "Class Period"). The case, Scheller v.Nutanix, Inc. et al., No. 19-cv-01651 was filed on March 29, 2019 and has been assigned to Judge William Horsley Orrick III.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making falseand/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: a $16.39 or a 38.87% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Nutanix's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
SOURCE: Faruqi & Faruqi, LLP
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