NEW YORK, May 01, 2023 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP reminds investors that a complaint has been filed on behalf of investors who purchased or otherwise acquired the securities of Nutanix, Inc. (“Nutanix” or the “Company”) (NASDAQ: NTNX) between September 21, 2021 and March 6, 2023, inclusive (the “Class Period”). Click Here to Join Investigation.
If you acquired Nutanix securities during the Class Period and would like to discuss this case, please click here. You may also contact us by emailing pmayer@kaplanfox.com or calling (646) 315-9003.
If you are a member of the proposed Class, you may move the court no later than June 13, 2023 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
On March 6, 2023 after the market closed, Nutanix announced that the Company would be unable to timely file its quarterly report for the quarter ended January 31, 2023. The Company disclosed that “[t]he Audit Committee of the Company’s Board of Directors (the “Audit Committee”), with the assistance of outside counsel, is conducting an investigation following Company management’s discovery that certain evaluation software from one of the Company’s third-party providers was instead used for interoperability testing, validation and customer proofs of concept over a multi-year period[,]” and that “[i]t is likely that additional costs would be incurred to address the additional use of the software.” During the conference call held the same day, the Company’s CEO explained that the Company would be required to pay the cost of using software from a third-party provider beyond the scope of its intended usage over a multi-year period.
Following this news, the price of Nutanix stock fell $2.27 per share, or 7.89%, to close at $26.50 per share on March 7, 2023.
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If you have any questions about this Notice, your rights, or your interests, please contact:
Pamela Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
