NEW ORLEAN – (AFTERNOON PRAYER) – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., reminds investors that they only have so far March 22, 2021 to file lead plaintiff claims in a securities class action lawsuit against Nutanix, Inc. (NasdaqGS: NTNX), if they purchased the Company’s securities between March 1, 2018 and May 30, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for Northern California District.
What you can do
If you have purchased Nutanix securities and would like to discuss your legal rights and how this issue may affect you and your right to recovery for your economic loss, you may, without obligation or expense, contact KSF Managing Partner Lewis Kahn free of charge at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases / nasdaqgs-ntnx to learn more. If you want to be the main objector in this class action by observing a principal counsel with the aim of obtaining a fair and just resolution, you must seek this position by application to the Court by March 22, 2021.
About the lawsuit
Nutanix and some of its officials are accused of failing to disclose substantive information during Class Time, in violation of federal securities laws.
On February 28, 2019, the Company revealed its 2Q2019 financial results and 3Q guidance under analyst expectations as a result of “inappropriate marketing spend for pipeline generation and slower-than-expected employment,” which was opposed by the Company’s prior statements that it was investing heavily in growth. and increased sales and marketing activity while maintaining high profit margins. Then, on May 30, 2019, post-market, the Company announced its financial results for 3Q2019, reiterating that the Company had not met its revenue targets, which despite their previous representations.
On this news, the price of Nutanix shares fell 14.1%, from a closing price of $ 32.67 per share on May 30, 2019 to $ 28.07 per share on May 31, 2019, on an extremely heavy trading volume of nearly 22 million shares.
The case is In Nutanix Securities, Inc. Literature No. 19-cv-01651.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana lawyer Charles C. Foti, Jr., is one of the nation’s leading boutique law firms. KSF serves a variety of clients – including public institution investors, hedge funds, cash managers and retail investors – in trying to recoup investment losses due to corporate fraud. and misconduct by public trading companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you can visit www.ksfcounsel.com.