Nutanix, Inc.
| Company Name | Nutanix, Inc. |
| Stock Symbol | NTNX |
| Class Period | March 02, 2018 to February 28, 2019 |
| Lead Plaintiff Motion Deadline | May 28, 2019 |
On February 28, 2019, in a press release announcing the Company’s second quarter 2019 financial results, Nutanix advised investors that its third quarter 2019 guidance “reflects the impact of inadequate marketing spending for pipeline generation and slower than expected sales hiring.” During a conference call later that day, the Company disclosed that lead generation remained flat or declined, despite previous representations that the Company had been growing its business through investments in sales and marketing.
On this news, shares of Nutanix fell $16.39 per share, or over 32%, to close at $33.70 on March 1, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s lead generation spending remained flat or declined; (2) the Company was not increasing its sales and marketing activities; (3) that the Company’s financial results were driven by reduced lead generation spend, rather than improved operations; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times.
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