NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces the filing
of a class action lawsuit on behalf of purchasers of the securities of
Cloudera, Inc. (NYSE: CLDR) from April 28, 2017 through June 5, 2019,
inclusive (the “Class Period”). The lawsuit seeks to recover damages for
Cloudera investors under the federal securities laws.
To join the Cloudera class action, go http://www.rosenlegal.com/cases-register-1596.html
or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected]
or [email protected] for
information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU
MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS
MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN
ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD
According to the lawsuit, defendants throughout the Class Period made
false and/or misleading statements and/or failed to disclose that: (1)
Cloudera was finding it increasingly difficult to identify large
enterprises interested in adopting Cloudera’s Hadoop-based platform; (2)
Cloudera needed to expend an increasing amount of capital on sales and
marketing activities to generate new revenues; (3) Cloudera had
materially diminished sales opportunities and prospects and could not
generate annual positive cash flows for the foreseeable future; (4) the
primary motivation for Cloudera’s merger with Hortonworks was to
generate growth through the acquisition of Hortonworks’ existing
customers (as opposed to obtaining them organically); (5) the purported
synergies and other benefits of the merger with Hortonworks were
materially overstated; and (6) defendants’ positive statements about
Cloudera’s business, operations, and prospects were materially
misleading and/or lacked a reasonable basis. When the true details
entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as
lead plaintiff, you must move the Court no later than August 6, 2019. A
lead plaintiff is a representative party acting on behalf of other class
members in directing the litigation. If you wish to join the litigation,
go to http://www.rosenlegal.com/cases-register-1596.html
or to discuss your rights or interests regarding this class action,
please contact Phillip Kim, Esq. of Rosen Law Firm toll free at
866-767-3653 or via e-mail at [email protected]
or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class
Action Services for number of securities class action settlements in
2017. The firm has been ranked in the top 3 each year since 2013. Rosen
Law Firm has secured hundreds of millions of dollars for investors.
The Rosen Law Firm, P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Madison Avenue, 34th Floor
New York, NY 10016
Toll Free: (866) 767-3653
Fax: (212) 202-3827