NEW ORLEANS, May 12, 2023 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 13, 2023 to file lead plaintiff applications in a securities class action lawsuit against Nutanix, Inc. NTNX, if they purchased the Company’s securities between September 21, 2021 and March 6, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of Nutanix and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-ntnx/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 13, 2023.
About the Lawsuit
Nutanix and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 6, 2023, the Company disclosed that it did not expect to be able to timely file its 10-Q Report for the quarter ended January 31, 2023 due to an ongoing Audit Committee investigation into “certain evaluation software from one of its third-party providers [being]
instead used for interoperability testing, validation and customer proofs of concept over a multiyear period,” which would likely result in additional costs being incurred to pay for the use of the software beyond the scope of its intended evaluation usage.
On this news, shares of Nutanix fell $2.27 per share, or 7.89%, to close at $26.50 per share on March 7, 2023.
The case is Gorsline v. Nutanix, Inc., et al., No. 23-cv-01827.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney…