NEW YORK, NY / ACCESSWIRE / April 2, 2019 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Nutanix, Inc. (''Nutanix'' or the ''Company'') (NASDAQ: NTNX). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/ntnx.
The investigation concerns whether Nutanix and certain of its officers and/or directors have violated federal securities laws.
On February 28, 2019, Nutanix issued a press release announcing the Company's financial and operating results for the second fiscal quarter of 2019. In the press release, Nutanix advised investors that ''[l]ooking head, our third quarter guidance reflects the impact of inadequate marketing spending for pipeline generation and slower than expected sales hiring. We took a critical look at these areas and have taken actions to address them.'' Later that day, on a conference call discussing the Company's financial results, Nutanix revealed that despite its previous representations that the Company had been investing in sales and marketing and growing its business, in actuality Nutanix had held flat or decreased lead generation, the key driver of pipeline. As a result, Nutanix had missed its pipeline targets and Nutanix's financial guidance for upcoming quarters was significantly negatively impacted. Following these disclosures, Nutanix's stock price fell $16.39 per share, more than 32%, to close at $33.70 per share on March 1, 2019.
If you are aware of any facts relating to this investigation, or purchased Nutanix shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/ntnx. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC