The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Nutanix, Inc. (NASDAQ: NTNX) call and/or put options between November 30, 2017 and May 30, 2019.
This securities fraud class action arises from misrepresentations and omissions 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 suffered a loss in Nutanix, you have until August 10, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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