According to the Complaint, Cloudera, Inc. 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. All future docketing was ordered to be done in the lead case 19-CV-03221.

On December 16, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on February 14, 2020. On March 18, the Court issued an Order vacating the Order appointing Lead Plaintiff and Counsel. The Court issued an Order appointing Lead Plaintiff and Counsel on July 27.

Lead Plaintiff filed a consolidated amended Complaint on September 22, 2020. Defendants filed Motions to Dismiss the consolidated amended Complaint on October 27. On May 25, 2021, the Court issued an Order granting Defendants' Motions to Dismiss. Plaintiff was given leave to amend the Complaint.

On June 24, 2021, Lead Plaintiff filed a consolidated second amended Complaint. Defendants filed a Motion to Dismiss the consolidated second amended Complaint on August 5.

On August 16, 2022, Defendants' Counsel notified the Court of the death of one of the individual Defendants.

On October 25, 2022, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed without further leave to amend. Lead Plaintiff filed a notice appealing the Court's Dismissal Order on November 21.

On November 19, 2024, the Court of Appeals affirmed the District Court's Dismissal Order.