NTNX.US
id: 731, Created by Stan Vick, Scout
Nutanix (NTNX) $71M Securities Settlement
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
Claim deadline for this case already passed by, but we can still try and file for compensation for you
Claim payout
N.D. California
Court3:19-cv-01651-WHO, 3:21-cv-04080-WHO
Case number30 Nov 2017
Class period Start30 May 2019
Class period End06 Sept 2023
Claim deadlineNutanix (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.
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Filing date
28 May 2021
Lead plaintiff
California Ironworkers Field Pension Trust, City of Miami Fire Fighters’ and Police Officers’ Retirement Trust, Norton Family Living Trust UAD 11/15/2002
Attorney
Levi & Korsinsky (Stamford, CT)
Defendants
Dheeraj Pandey, Duston M. Williams
Judge
Hon. William H. Orrick
Administrator
Gilardi & Co LLC
Court hearing date
04 October 2023
Exclusion deadline
13 September 2023
Objection deadline
13 September 2023
Hearing deadline
13 September 2023
+$71,000,000
Total Settlement AmountCase history
Stan Vick
01 September 2023
Attorneys from Robbins Geller Rudman & Dowd LLP, who represented investors in a lawsuit against Nutanix, submitted a request for a $22 million fee approval to a federal judge in San Francisco.
This case ultimately resulted in a $71 million settlement, with investors alleging that $NTNX concealed declines in its sales.