Processing your request


please wait...

Case Page

 

Case Status:    SETTLED
On or around 10/10/2023 (Date of order of final judgment)

Filing Date: May 28, 2021

According to the Complaint, Nutanix, Inc. purports to be a cloud computing software company headquartered in San Jose, California known for pioneering its “core” hyper-converged infrastructure (“HCI”) software technology, which combines the components of data center computing (server, storage, and virtualization) into a single scalable machine through software.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business prospects. Specifically, the Complaint alleges that Defendants' statements were materially false and misleading in that the Company kept lead generation spending flat for more than a year, did not meet its internal sales hiring goals, and knowingly allowed “chaos” to “reign” over an inexperienced and understaffed salesforce, which resulted in a severely depleted pipeline and the failure to generate revenue and profits through sales, other than through an undisclosed and deceptive unsustainable pull-in scheme.

On September 8, 2021, the Court issued an Order appointing Lead Plaintiff and Counsel. Defendants filed a Motion to Dismiss the Complaint on November 1. On June 15, 2022, the Court issued an Order denying Defendants' Motion to Dismiss.

Lead Plaintiff filed an amended Complaint on September 1, 2022. On October 4, Lead Plaintiff filed a revised amended Complaint.

On April 7, 2023, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on May 19. On October 6, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses. The Court entered Final Judgment on October 10.

Protected Content


Please Log In or Sign Up for a free account to access restricted features of the Clearinghouse website, including the Advanced Search form and the full case pages.

When you sign up, you will have the option to save your search queries performed on the Advanced Search form.