WELCOME TO THE NUTANIX SECURITIES SETTLEMENT WEBSITE

This website has been established to provide general information related to the pendency and proposed Settlement of the following class action lawsuits referred to as In re Nutanix, Inc. Securities Litigation, No. 3:19-cv-01651-WHO (N.D. Cal.) (the “Nutanix Action”) and John P. Norton, on behalf of the Norton Family Living Trust UAD 11/15/2002 v. Nutanix, Inc., et al., No. 3:21-cv-04080-WHO (N.D. Cal.) (the “Norton Action,” and with the Nutanix Action, the “Actions”), and pending before the Honorable William H. Orrick in the United States District Court for the Northern District of California (the “Court”). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement dated April 7, 2023 (the "Stipulation"), which can be found and downloaded by clicking on the Case Documents tab above.

The law firms of Robbins Geller Rudman & Dowd LLP and Levi & Korsinsky, LLP represent you and other Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

Plaintiffs allege that during the period between November 30, 2017 and May 30, 2019, Defendants made materially false or misleading statements in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b‑5 promulgated thereunder, which caused the price of Nutanix securities and publicly traded options to trade at artificially inflated prices. Specifically, Plaintiffs allege that contrary to Defendants’ statements during the Class Period that Nutanix was making significant investments in sales and marketing while maintaining high profit margins, Defendants had actually decreased Nutanix’s lead generation spending, which in turn “drove” higher margins and resulted in weak guidance. Plaintiffs allege that the truth did not begin to come to light until February 28, 2019, when Defendants announced the Company’s financial results for the second quarter of fiscal 2019, revealing that despite their Class Period statements, Nutanix had held flat or decreased the “key” driver of its pipeline – lead generation. Plaintiffs allege a second corrective disclosure occurred on May 30, 2019, when Defendants allegedly revealed their sales pipeline and execution problems were far worse than previously disclosed, and would cause Nutanix to suffer year-over-year declines in several key metrics and miss the low end of revenue and billing targets set just a quarter earlier. Plaintiffs allege that Persons who purchased or acquired Nutanix securities and/or publicly traded options during the Class Period suffered economic losses when the price of Nutanix securities and publicly traded options declined as a result of the two alleged corrective disclosures revealing the issues in Nutanix’s sales pipeline to investors.

If you purchased or otherwise acquired Nutanix securities between November 30, 2017 and May 30, 2019, inclusive (the “Class Period”); and/or transacted in publicly traded call options and/or put options of Nutanix during the Class Period, you are a Class Member.  Excluded from the Class are Nutanix and its subsidiaries and affiliates, the Individual Defendants, any of Defendants’ respective officers and directors at all relevant times, and any of their immediate families, legal representatives, heirs, successors, or assigns, and any entity in which any Defendant has or had a Controlling Interest. Also excluded from the Class are any persons or entities who exclude themselves by submitting a request for exclusion in connection with the Notice that is accepted by the Court.

WHAT DOES THE SETTLEMENT PROVIDE?

The Settlement provides that, in exchange for the release of the Released Claims and dismissal of the Actions, Nutanix will pay $71,000,000 in cash, plus any interest earned thereon, less all Taxes, Tax Expenses, Notice and Administration Expenses, approved attorneys’ fees and expenses, and any other fees or expenses approved by the Court (“Net Settlement Fund”). The Net Settlement Fund shall be distributed, pro rata, to Class Members who submit timely and valid Proof of Claim and Release Forms ("Claim Forms") to the Claims Administrator according to the Plan of Allocation which is described in more detail in the Notice of Pendency and Proposed Settlement of Class Actions ("Notice"). 

ADDITIONAL INFORMATION

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation. We recommend you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

IMPORTANT DATES AND DEADLINES