SAN DIEGO, Aug. 31, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that an update in the lawsuit that is pending for certain investors in Nutanix, Inc. (NASDAQ: NTNX) shares.
Investors, who purchased shares of Nutanix, Inc. (NASDAQ: NTNX) in November 2017 or earlier and continue to hold any of those NASDAQ: NTNX shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On March 29, 2019, a lawsuit was filed against Nutanix, Inc. over alleged Securities Laws Violations. The plaintiff alleged that the defendants made repeated statements that Nutanix was investing heavily in growth and was increasing sales and marketing activities while maintaining high profit margins., and that contrary to these statements, and as revealed by the Defendants on February 28, 2019, starting with the fourth fiscal quarter of 2017 (beginning May 1, 2017) through the third fiscal quarter of 2018 (ending April 30, 2018), Defendants did not increase Nutanix’s lead generation spending, but rather held lead generation spending, an admitted “key component to building pipeline,” flat.
The Complaint further alleged that by misrepresenting the magnitude of Nutanix’s marketing spending, and failing to disclose Nutanix was pulling back on lead generation spending, Defendants were able to misrepresent that Nutanix had improved its profit margins through business acumen, rather than the truth – that Nutanix was skimping on important drivers of revenue growth.
On June 10, 2021, a lead plaintiff and a lead counsel for the case was appointed.
Those who purchased Nutanix, Inc. (NASDAQ: NTNX) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
