NEW ORLEANS, May 10, 2019 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 28, 2019 to file lead plaintiff applications in a securities class action lawsuit against Nutanix, Inc. (NTNX), if they purchased the Company’s shares between March 2, 2018 and February 28, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of Nutanix and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-ntnx/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 28, 2019.
About the Lawsuit
Nutanix and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 28, 2019, the Company disclosed 2Q 2019 financial results and 3Q guidance below analysts’ expectations due to “inadequate marketing spend for pipeline generation and slower than expected sales hiring,” which contradicted the Company’s prior statements that it was investing heavily in growth and was increasing sales and marketing activities while maintaining high profit margins.
On this news, the price of Nutanix’s shares plummeted.
The case is Scheller v. Nutanix, Inc. et al., No. 19-cv-01651.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163