NEW YORK, May 15, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Nutanix, Inc. (NTNX) from March 2, 2018 through February 28, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Nutanix investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than May 28, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation http://zhanginvestorlaw.com/join-action-form/?slug=nutanix-inc&id=1849, or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756, or email firstname.lastname@example.org, email@example.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Nutanix had reallocated lead generation spending to other priorities, which represented a significant strategy shift from how the Company had historically conducted its sales efforts; (2) Nutanix’s decision to reallocate lead generation spending had caused a large disruption in the Company’s sales execution, thereby negatively impacting Nutanix’s sales pipeline and slowing the Company’s sales growth; (3) Nutanix had fallen behind in its sales hiring goals, which was further impairing the Company’s efforts to grow its sales pipeline development; (4) the improvement in the Company’s gross margins was not the result of the changes being made to the Company’s business model, including the shift from hardware to software and the change from licensing to subscription platforms, but rather was the result of the Company’s decision to reallocate lead generation spending; and (5) as a result, Nutanix’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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