On or around 12/30/2019 (Date of last review)
Filing Date: June 07, 2019
According to the Complaint, Cloudera is a data management and software company.
The Complaint alleges that during the Class Period, the Defendants failed to disclose adverse facts pertaining to Cloudera's business, operations, and financial condition, which were known to or recklessly disregarded by Defendants. Specifically, the Complaint alleges Defendants failed to disclose: (i) Cloudera was finding it increasingly difficult to identify large enterprises interested in adopting the Company's Hadoop-based platform; (ii) Cloudera needed to expend an increasing amount of capital on sales and marketing activities to generate new revenues; (iii) Cloudera had materially diminished sales opportunities and prospects and could not generate annual positive cash flows for the foreseeable future; (iv) the primary motivation for the Company's merger with Hortonworks was to generate growth through the acquisition of Hortonworks' existing customers (as opposed to obtaining them organically); and (v) that the purported synergies and other benefits of the merger with Hortonworks were materially overstated.
On September 10, 2019, the Court issued an Order consolidating cases. On December 16, the Court issued an Order appointing Lead Plaintiff and Counsel.
Company & Securities Information
Defendant: Cloudera, Inc.
Industry: Software & Programming
Headquarters: United States
Ticker Symbol: CLDR
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Shanice Christie, et al. v. Cloudera, Inc., et al.
COURT: N.D. California
DOCKET #: 19-CV-03221
JUDGE: Hon. Lucy H. Koh
DATE FILED: 06/07/2019
CLASS PERIOD START: 04/28/2017
CLASS PERIOD END: 06/05/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Johnson Fistel, LLP
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
Order Consolidating Cases
Order Relating Stockholder Derivative Actions
Order Appointing Lead Plaintiff and Lead Counsel
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available