Levi & Korsinsky, LLP Provides Update on In re Nutanix, Inc. Securities Litigation, No. 3:19-cv-01651-WHO (N.D. Cal.), and Notification of a Lead Plaintiff Deadline of March 22, 2021

New York, New York--(Newsfile Corp. - March 8, 2021) - To: All persons or entities who purchased or otherwise acquired securities of Nutanix, Inc. (NASDAQ: NTNX) between March 1, 2018 and May 30, 2019 (the "Class Period").

You are hereby notified that Levi & Korsinsky, LLP ("Levi & Korsinsky") was previously appointed as Lead Counsel and its client as the Lead Plaintiff by Court order dated July 10, 2019 in a securities fraud class action lawsuit (the "Action") filed against Nutanix, Inc. (NASDAQ: NTNX) ("Nutanix"). The Action is pending in the United States District Court for the Northern District of California before the Honorable Judge William H. Orrick and is captioned In re Nutanix, Inc. Securities Litigation, Case No. 3:19-cv-01651-WHO.

Pursuant to Judge Orrick's Order, investors who purchased Nutanix securities during the Class Period may, no later than Monday March 22, 2021, seek appointment as a lead plaintiff representative of the class. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Levi & Korsinsky has been actively prosecuting Nutanix investors' claims for nearly two years in preparation for trial. Levi & Korsinsky's efforts on behalf of the class have included, among other things:

  • investigating and drafting a complaint that withstood Defendants' motion to dismiss;
  • developing confidential witness testimony supporting the complaint;
  • serving document requests and interrogatories on the defendants;
  • reviewing more than 18,000 thousand documents produced during discovery;
  • retaining an expert witness and preparing for expert disclosures in connection with class certification proceedings; and
  • preparing a motion for class certification.

Nutanix is a self-described cloud computing software company headquartered in San Jose, California known for pioneering its "core" hyper-converged infrastructure software technology. The complaint alleges that Nutanix and certain of Nutanix's executives made false and misleading statements and omissions during the Class Period about: (i) the health of Nutanix's sales pipeline; (ii) customer base; and (iii) sales productivity. The complaint alleges that the truth was revealed through two partial disclosures, one on February 28, 2019 and the second on May 30, 2019, which ultimately caused Nutanix's stock price to drop from $50.09 on February 28, 2019 to $28.07 on May 31, 2019.

On March 1, 2021, Judge Orrick issued an Order re-opening the Lead Plaintiff process by allowing any investor who purchased Nutanix securities during the Class Period to seek appointment as Lead Plaintiff.

Investors interested in seeking appointment as Lead Plaintiff may do so through Levi & Korsinsky, or other counsel, or may choose to do nothing and remain an absent class member. For additional information, access to the pleadings in the matter, or to learn how to participate in this litigation please visit: https://www.zlk.com/pslra-1/nutanix-inc-loss-form or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76423