Securities Class Action Lawsuit Vs. Nutanix
For inadequate marketing spend for pipeline generation and slower than expected sales hiring
This is a Press Release edited by StorageNewsletter.com on April 22, 2019 at 2:30 pmKahn Swick & Foti, LLC 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., if they purchased the company’s shares between March 2, 2018 and February 28, 2019, inclusive.
This action is pending in the United States District Court for the Northern District of California.
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 2Q19 financial results and 3Q19 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.
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