NEW YORK, April 1, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Nutanix, Inc. ("Nutanix" or the "Company") (NASDAQ: NTNX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Nutanix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 28, 2019, Nutanix issued a press release announcing the Company's financial and operating results for the second fiscal quarter of 2019. In the press release, Nutanix advised investors that "[l]ooking head, our third quarter guidance reflects the impact of inadequate marketing spending for pipeline generation and slower than expected sales hiring. We took a critical look at these areas and have taken actions to address them." Later that day, on a conference call discussing the Company's financial results, Nutanix revealed that despite its previous representations that the Company had been investing in sales and marketing and growing its business, in actuality Nutanix had held flat or decreased lead generation, the key driver of pipeline. As a result, Nutanix had missed its pipeline targets and Nutanix's financial guidance for upcoming quarters was significantly negatively impacted.
Following these disclosures, Nutanix's stock price fell $16.39 per share, more than 32%, to close at $33.70 per share on March 1, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP