Technology
Oct. 5, 2023
Cloud computing company’s $71M settlement with investors gets OK
“There’s only one opt-out, there are no objections, these are good results and I will enter a final order that finds that it’s fair, adequate and reasonable,” Senior U.S. District Judge William H. Orrick said.
Cloud computing company Nutanix Inc. and its investors were granted final approval of a $71 million settlement Wednesday to resolve a securities class action case. Plaintiffs had accused the company of making false statements regarding its transition to a new business model, causing a sharp drop in the company’s stock price.
According to media reports, the settlement sum is the same total money Nutanix, which is headquartered in Silicon V...
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