NUTANIX SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Resetting of Lead Plaintiff Deadline in Class Action Lawsuit Against Nutanix, Inc. – NTNX
NEW ORLEANS–(BUSINESS WIRE) – Kahn Swick & Foti, LLC (“KSF”) and KSF Affiliate, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they have until the deferral deadline of March 22, 2021 Class filing lead plaintiffs against Nutanix, Inc. (NasdaqGS: NTNX) if they purchased the Company’s securities between March 1, 2018 and May 30, 2019 (including the “Class Period”). This lawsuit is pending in the United States District Court for the Northern District of California.
What you can do
If you have purchased Nutanix securities and would like to discuss your legal rights and the possible impact this case may have on you and your right to reimbursement of your economic loss, you can contact KSF Managing Partner Lewis Kahn free of charge at 1- 877-515-1850 or email (firstname.lastname@example.org) or visit https://www.ksfcounsel.com/cases/nasdaqgs-ntnx/ to learn more. To appear as the lead plaintiff in this class action lawsuit, you must file a motion with the court March 22, 2021.
About the lawsuit
Nutanix and some of its executives are charged with failing to disclose material information during the classroom, in violation of federal securities laws.
On February 28, 2019, the company announced its financial results for the second quarter of 2009 and guidance for the third quarter of 2009, which fell short of analysts’ expectations due to “inadequate marketing spending on pipeline generation and slower-than-expected sales retirement” the company’s earlier statements contradicted that it invests heavily in growth and increased sales and marketing activities while maintaining high profit margins. Then, on May 30, 2019, post-market, the company announced its financial results for the third quarter of 2009 and re-announced that the company had failed to meet its sales targets, despite its previous statements to the contrary.
In that news, Nutanix shares fell 14.1% from a closing price of $ 32.67 per share on May 30, 2019 to $ 28.07 per share on May 31, 2019, with an exceptionally high trading volume of nearly 22 Million shares.
The case is In re Nutanix, Inc. Securities Litigation, No. 3: 19-cv-01651.
About Kahn Swick & Foti, LLC
KSF, which partnered with former Louisiana Attorney General Charles C. Foti, Jr., is a law firm that specializes in securities, antitrust, and class action lawsuits, mergers and acquisitions and fiduciary disputes against listed companies on behalf of Shareholders focused. The company has offices in New York, California and Louisiana.
To learn more about KSF, you can visit www.ksfcounsel.com.