The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Nutanix, Inc. (NASDAQ: NTNX) who purchased call options and/or put options between November 30, 2017 and May 30, 2019. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Nutanix lawsuit alleges that 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.
Shareholders have until August 10, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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