SAN FRANCISCO–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/InvestmentFraud?src=hash” target=”_blank”gt;#InvestmentFraudlt;/agt;–The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds
investors of the upcoming deadline to move for appointment as lead
plaintiff in the class action litigation has been filed on behalf of
investors who purchased or otherwise acquired the securities of Nutanix,
Inc. (“Nutanix” or the “Company”) (Nasdaq: NTNX) between March 2, 2018
and February 28, 2019, inclusive (the “Class Period”).
If you purchased or otherwise acquired Nutanix securities during the
Class Period, you may move the Court for appointment as lead plaintiff
by no later than May 28, 2019. A lead plaintiff is a representative
party who acts on behalf of other class members in directing the
litigation. Your share of any recovery in the actions will not be
affected by your decision of whether to seek appointment as lead
plaintiff. You may retain Lieff Cabraser, or other attorneys, as your
counsel in the actions.
investors who wish to learn more about the litigation and how to seek
appointment as lead plaintiff should click here or contact Sharon M.
Lee of Lieff Cabraser toll-free at 1-800-541-7358.
Nutanix, incorporated in Delaware and headquartered in San Jose,
California, is a cloud-computing software company that provides
information technology infrastructure solutions for corporate and
governmental clients. Nutanix’s software includes an information
technology platform that integrates enterprise-level access to both
private and public clouds.
The action alleges that from March 2, 2018 through February 28, 2019,
inclusive (the “Class Period”), Defendants made repeated statements that
the Company was investing heavily in growth and increasing its sales and
marketing activities while maintaining high profit margins. Recent
disclosures revealed that Defendants’ statements were false and/or
misleading, and/or that Defendants failed to disclose that: (i)
Defendants did not increase Nutanix’s lead generation spending during
the Class Period, and in fact decreased such spending; and (ii) as a
result, the growth of the Company’s business was unsustainable and its
financial earnings projections were misleading.
After the market closed on February 28, 2019, Nutanix issued a press
release and held a conference call announcing its financial results for
the second fiscal quarter of 2019 and guidance for the third quarter. On
the call, the Company’s founder and Chief Executive Officer Dheeraj
Pandey and its Chief Financial Officer Duston M. Williams revealed that
despite earlier statements that Nutanix was investing in sales and
marketing and growing the business, the Company had held flat or
decreased spending on lead generation—a “key component” to developing
its sales pipeline.
On this news, the price of Nutanix’s stock declined by $16.39 per share,
or 32.7%, from a closing price of $50.09 per share on February 28, 2019,
to close at $33.70 per share on March 1, 2019, on extremely elevated
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco,
New York, and Nashville, is a nationally recognized law firm committed
to advancing the rights of investors and promoting corporate
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for fourteen years. In compiling
the list, the National Law Journal examines recent verdicts and
settlements and looked for firms “representing the best qualities of the
plaintiffs’ bar and that demonstrated unusual dedication and
creativity.” Law360 has selected Lieff Cabraser as one of the Top
50 law firms nationwide for litigation, highlighting our firm’s “laser
focus” and noting that our firm routinely finds itself “facing off
against some of the largest and strongest defense law firms in the
world.” In late 2016, Benchmark Litigation named Lieff Cabraser
one of the “Top 10 Plaintiffs’ Firms in America.”
For more information about Lieff Cabraser and the firm’s representation
of investors, please visit http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Source/Contact for Media Inquiries Only
Sharon M. Lee
Cabraser Heimann & Bernstein, LLP