For how long have you held?
NTNX's Motion to Dismiss the class action complaint on 9/14/20. That case is on behalf of holders who purchased NTNX from March 2, 2018 through February 28, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Nutanix investors under the federal securities law for allegedly false and/or misleading statements and/or failed to disclose that: (1) Nutanix had reallocated lead generation spending to other priorities, which represented a significant strategy shift from how the Company had historically conducted its sales efforts; (2) Nutanix’s decision to reallocate lead generation spending had caused a large disruption in the Company’s sales execution, thereby negatively impacting Nutanix’s sales pipeline and slowing the Company’s sales growth; (3) Nutanix had fallen behind in its sales hiring goals, which was further impairing the Company’s efforts to grow its sales pipeline development; (4) the improvement in the Company’s gross margins was not the result of the changes being made to the Company’s business model, including the shift from hardware to software and the change from licensing to subscription platforms, but rather was the result of the Company’s decision to reallocate lead generation spending.
Shareholders who purchased prior to 3/2/18 can make a demand for better corporate governance, return of funds from the class action back to the company, and a court approved cash incentive award.
Best regards,
Josh Grabar
jgrabar@grabarlaw.com
