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NTNX.US
id: 731

Nutanix (NTNX) $71M Securities Settlement

The settlement funds have been distributed to claimants.
$71,000,000
Cash Settlement
N.D. California
Court
3:19-cv-01651-WHO, 3:21-cv-04080-WHO
Case number
11/30/2017
Class period Start
05/30/2019
Class period End
09/06/2023
Claim deadline
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:
  1. purchased or otherwise acquired Nutanix securities between November 30, 2017, and May 30, 2019, inclusive; and/or
  2. transacted in publicly traded call options and/or put options of Nutanix during the Class Period.
Case Type
US Securities Class Action
Case Status
Disbursed
Alleged Offence
Misleading Statements, 
Failure to Disclose, 
Omissions
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.43
Filing date
05/28/2021
Plaintiffs
California Ironworkers Field Pension Trust, City of Miami Fire Fighters’ and Police Officers’ Retirement Trust, Norton Family Living Trust UAD 11/15/2002
Attorneys
Levi & Korsinsky (Stamford, CT)
Defendants
Dheeraj Pandey, Duston M. Williams
Judge
Hon. William H. Orrick
Administrator
Gilardi & Co LLC
Court hearing date
10/04/2023
Exclusion deadline
09/13/2023
Objection deadline
09/13/2023
Hearing deadline
09/13/2023
Trades matching type
FIFO
Disbursement date
12/12/2024

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