Nutanix, Inc. (NASDAQ: NTNX)

This lawsuit is for anyone who acquired securities in Nutanix, Inc. (NASDAQ: NTNX) from September 21, 2021 through March 6, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely inform investors that the Company was using software that it licensed from a third party in violation of the license, subjecting the Company to paying additional fees to the third party.

On March 6, 2023, after the market closed, Nutanix disclosed that it will be unable to file its Quarterly Report on Form 10-Q for the quarter ended January 31, 2023 on time because the Company’s Audit Committee is conducting an investigation with the assistance of outside counsel. The investigation relates to “certain evaluation software from one of the Company’s third-party providers [that] was instead used for interoperability testing, validation and customer proofs of concept over a multi-year period.” The Company further disclosed that the issue is likely to result in “additional costs . . . incurred to address the additional use of the software.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Nutanix, Inc. (NASDAQ: NTNX) from September 21, 2021 through March 6, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.