Class Action Lawsuit Vs. Cloudera

ClaimsFiler, a free shareholder information service, provides the following update on the securities class action lawsuit vs. Cloudera, Inc. and other named defendants on behalf of all persons who purchased and/or otherwise acquired Cloudera common stock: (i) pursuant or traceable to the registration statement filed in connection with Cloudera’s merger with Hortonworks, Inc. on January 3, 2019; and/or (ii) between April 28, 2017 and June 5, 2019, inclusive. This action is pending in the United States District Court for the Northern District of California.

Lawyers at Kahn Swick & Foti, LLC are available to discuss shareholders legal options.

About lawsuit
On March 18, 2020, the presiding court vacated its previous order appointing lead plaintiff, reopened the lead plaintiff selection process and required that notice be reissued to include shareholders who acquired Cloudera stock in exchange for their shares of Hortonworks, Inc. in the merger. On May 18, 2020, the former lead plaintiff, represented by Kahn Swick & Foti, filed a renewed motion for Lead Plaintiff that is unopposed.

The case is in re Cloudera, Inc. Securities Litigation, 19-cv-03221.

Read also:
Cloudera and Hortonworks Merged
Cloudera will own 60% of combined company and Hortonworks 40%.
October 4, 2018 | Press Release
Comment on Cloudera/Hortonworks Deal by John Schroeder, CEO and COB, MapR
“Customers will not gain innovation benefits through this merger. The merger is about cost cutting.“
October 8, 2018 | Press Release