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Case Status:    ONGOING    
On or around 09/19/2019 (Ongoing date of last review)

Filing Date: March 29, 2019

According to the Complaint, Nutanix “provides a leading enterprise cloud platform that powers many of the world’s business applications and end user services by providing software solutions that digitize traditional silos of enterprise computing.”

The Complaint alleges that during the Class Period, Defendants made repeated statements that Nutanix was investing heavily in growth and was increasing sales and marketing activities while maintaining high profit margins. Contrary to these statements, and as revealed by the Defendants on February 28, 2019, starting with the fourth fiscal quarter of 2017 (beginning May 1, 2017) through the third fiscal quarter of 2018 (ending April 30, 2018), Defendants did not increase Nutanix’s lead generation spending, but rather held lead generation spending, an admitted “key component to building pipeline,” flat. Further, starting with the fourth fiscal quarter of 2018 (beginning May 1, 2018) through the second fiscal quarter of 2019 (ending January 31, 2019), rather than either increasing lead generation spending or holding that spending flat, Defendants actually decreased Nutanix’s lead generation spending.

The Complaint further alleges that by misrepresenting the magnitude of Nutanix’s marketing spending, and failing to disclose Nutanix was pulling back on lead generation spending, Defendants were able to misrepresent that Nutanix had improved its profit margins through business acumen, rather than the truth – that Nutanix was skimping on important drivers of revenue growth.

On July 10, 2019, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on September 9.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: NTNX
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 19-CV-01651
JUDGE: Hon. William H. Orrick
DATE FILED: 03/29/2019
CLASS PERIOD START: 03/02/2018
CLASS PERIOD END: 02/28/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berman Tabacco
  2. Wolf Popper, LLP
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 19-CV-01651
JUDGE: Hon. William H. Orrick
DATE FILED: 09/09/2019
CLASS PERIOD START: 11/30/2017
CLASS PERIOD END: 05/30/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky, LLP (Stamford)
    1111 Summer Street, Suite 403, Levi & Korsinsky, LLP (Stamford), CT 06905
    203.992.4523 ·
No Document Title Filing Date
—Related District Court Filings Data is not available