Archived Investigations

Nutanix, Inc. (NasdaqGS: NTNX)

Company Name:Nutanix, Inc.
Stock Symbol:NasdaqGS: NTNX
Court:Northern District of California
Class Period Start:09/21/2021
Class Period End (inclusive):03/06/2023
Filing Deadline:The deadline has passed.
April 17, 2023

Nutanix, Inc. (NasdaqGS: NTNX) 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.

Click here to read the first filed complaint.