NEW YORK, May 28, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
American Renal Associates Holdings, Inc. (NYSE: ARA)
Class Period: August 10, 2016 - March 27, 2019
Deadline: May 28, 2019
For more info: www.bgandg.com/ara
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) issues with American Renal’s accounting process for revenue recognition, collections, and related matters would give rise to a U.S. Securities and Exchange Commission (“SEC”) investigation into the same, and increased regulatory scrutiny by the SEC; (2) American Renal’s financial statements for the fiscal years 2014, 2015, 2016 and 2017 contained in its Annual Reports for the years ended December 31, 2016 and 2017, and its condensed consolidated financial statements in quarterly reports from 2016 through 2018 were false and could not be relied upon; (3) American Renal had material weaknesses in its internal control over financial reporting; and (4) as a result, defendants’ public statements were materially false and misleading at all relevant times.
Nutanix, Inc. (NASDAQ: NTNX)
Class Period: March 2, 2018 - February 28, 2019
Deadline: May 28, 2019
For more info: www.bgandg.com/ntnx
On February 28, 2019, Nutanix issued a press release announcing the Company’s financial and operating results for the second fiscal quarter of 2019. In the press release, Nutanix advised investors that “[l]ooking head, our third quarter guidance reflects the impact of inadequate marketing spending for pipeline generation and slower than expected sales hiring. We took a critical look at these areas and have taken actions to address them.” Later that day, on a conference call discussing the Company’s financial results, Nutanix revealed that despite its previous representations that the Company had been investing in sales and marketing and growing its business, in actuality Nutanix had held flat or decreased lead generation, the key driver of pipeline. As a result, Nutanix had missed its pipeline targets and Nutanix’s financial guidance for upcoming quarters was significantly negatively impacted. Following these disclosures, Nutanix’s stock price fell $16.39 per share, more than 32%, to close at $33.70 per share on March 1, 2019.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com