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Scott+Scott Attorneys at Law LLP Alerts Investors to Re-Opening of Lead Plaintiff Process in Securities Class Action Against Nutanix, Inc. (NTNX)

Scott+Scott Attorneys at Law LLP
·2-min read

NEW YORK, March 04, 2021 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, announces to investors that a new deadline has been set to move for lead plaintiff in a securities class action against Nutanix, Inc. (“Nutanix” or the “Company”) (NASDAQ: NTNX) and certain of its officers and directors, pending in the Northern District of California. If you purchased or otherwise acquired Nutanix securities between March 1, 2018 and May 30, 2019, both dates inclusive (the “Class Period”), and have suffered losses over $100,000, you are encouraged to contact Jonathan Zimmerman for additional information at (888) 398-9312 or jzimmerman@scott-scott.com.

The lawsuit alleges that Nutanix made misleading statements regarding its new customer growth and sales productivity during the Class Period and, when the truth came out, the price of Nutanix stock dropped precipitously.

On February 28, 2019, Nutanix reported its financial results for the second quarter of fiscal year 2019 and disclosed issues with its sales hiring and execution. On this news, the price of Nutanix stock declined from a closing price of $50.09 per share on February 28, 2019 to a close of $33.70 per share on March 2, 2019, a drop of 32.7%.

Then, on May 30, 2019, Nutanix released its financial results for the third quarter of fiscal year 2019 and again failed to meet its revenue targets as a result of the same issues. On this news, Nutanix’s stock dropped from a closing price of $32.67 per share on May 30, 2019 to $28.07 per share on May 31, 2019, a drop of 14%,

What You Can Do

If you purchased Nutanix securities between March 1, 2018 and May 30, 2019, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Jonathan Zimmerman at (888) 398-9312 or zimmerman@scott-scott.com. The new lead plaintiff deadline is March 22, 2021.

About Scott+Scott Attorneys at Law LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.

Attorney Advertising

CONTACT:

Jonathan Zimmerman
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 17th Floor, New York, NY 10169-1820
(888) 398-9312
jzimmerman@scott-scott.com