NEW YORK, June 05, 2023 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Nutanix, Inc. (NASDAQ: NTNX) ("Nutanix" or the "Company") for violations of the federal securities laws on behalf of investors who purchased or otherwise acquired Nutanix securities between September 21, 2021 to March 6, 2023, both dates inclusive (the "Class Period").
On April 15, 2023, a complaint was filed against the Company and certain of its officers alleging that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and internal controls. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company maintained deficient internal controls relating to its use of licensed software and expense management; (ii) as a result of these deficiencies, the Company improperly used third-party evaluation software for business purposes over a multi-year period; and (iii) investigation and remediation of the foregoing — i.e., paying vendors the full cost to use their software for business purposes—would cause the Company to incur significant expenses.; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
When investors learned the truth, Nutanix common stock declined precipitously, injuring investors.
If you suffered a loss of more than $100,000 in Nutanix securities, and wish to participate, or learn more, please contact our attorneys at (914) 733-7256 or via email to Andrea Farah at afarah@lowey.com or Radhika Gupta at rgupta@lowey.com. You can also read more about the investigation here.
Any investor who wishes to serve as Lead Plaintiff must act before June 13, 2023.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: 914-977-0500
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg P.C.
