Nutanix (NTNX) $71M Securities Settlement
Nutanix (NTNX) pays $71 million to investors to settle a consolidated securities class action accusing the Company of hiding sales slumps.
The original complaint alleges that the Company and its Leaders made materially false and misleading statements regarding the Company's business prospects.
Specifically, the Complaint alleges that Defendant's 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.
Eligibility:
All persons or entities who:
purchased or otherwise acquired Nutanix securities between November 30, 2017, and May 30, 2019, inclusive; and/or
transacted in publicly traded call options and/or put options of Nutanix during the Class Period.