A securities class action has been filed against Nutanix, Inc. (NTNX) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Nutanix securities between September 21, 2021 through March 6, 2023. This case has been filed in the USDC – N.D.CA
On March 6, 2023, Nutanix issued a press release reporting selected preliminary second quarter fiscal 2023 financial results. Among other items, Nutanix reported that “Company management discovered that certain evaluation software from one of its third-party providers was instead used for interoperability testing, validation and customer proofs of concept over a multi-year period.” Due to an ongoing Audit Committee investigation into the matter, Nutanix stated that “it does not expect to be able to [timely] file its Quarterly Report on Form 10-Q for the quarter ended January 31, 2023[.]”
On this news, Nutanix’s stock price fell $2.27 per share, or 7.89%, to close at $26.50 per share on March 7, 2023.