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Nutanix is facing a class action lawsuit alleging that misrepresentations and omissions were made by Defendants during the class period intended to misrepresent and/or conceal from investors Nutanix’s rapidly declining sales pipeline and revenue. Among other things, Defendants: 1) knowingly concealed from investors that Nutanix’s purported strong sales hiring was woefully inadequate because a large portion of the Company’s hiring was to replace sales representatives who were leaving, rather than growing the sales force needed to achieve targeted revenue growth; 2) made the undisclosed decision to keep critical spending for lead generation activities “flat” so that Nutanix could divert those funds to the research and development of its public cloud product; and 3) told investors that Nutanix had “experienced record sales productivity”, despite their knowledge to the contrary.
If you incurred a loss on NTNX put and/or call options purchased between November 30, 2017 and May 30, 2019, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Northern District of California, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until August 10, 2021 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
Fill out the form below to be contacted by a representative of Jakubowitz Law.
See If you Qualify for Monetary Reward
Loss Submission Form