Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Nutanix, Inc. (NTNX)
NEW YORK, March 8, 2021 (GLOBE NEWSWIRE) – Gainey McKenna & Egleston announces a class action lawsuit has been filed against Nutanix, Inc. (“Nutanix”) (NASDAQ: NTNX) in the US District Court for the District of California in the District of California Names of those who purchased or acquired Nutanix securities between March 1, 2018 and May 30, 2019 (including the “Class Period”). The lawsuit aims to seek compensation for investors in accordance with federal securities laws.
The complaint alleges that defendants made a number of material misrepresentations and omitted material facts in Company public filings, press releases, and other documents relating to Nutanix: (1) sales productivity; (2) lead generation expenses; (3) recruitment of sales personnel; and (4) sales and customer growth. When the real details hit the market, the lawsuit alleged that investors suffered damage.
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, the company announced its financial results for the third quarter of 2009 and again announced that the company had failed to meet its revenue targets despite 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.
Investors who have purchased or otherwise acquired Nutanix stock during the class period should contact the company before March 22, 2021 Deadline for the main plaintiff’s motion. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. If you would like to discuss your rights or interests in relation to this class action lawsuit, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. from Gainey McKenna & Egleston at (212) 983-1300 or by email at email@example.com or Gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the company.