Cloudera, Inc. Securities Litigation

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Lawsuit Overview

Defendant:Cloud Centric, Inc.
Date Filed:June 7th, 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.

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First Identified Complaint

Shanice Christie, et al. v. Cloudera, Inc., et al.

Date Filed:June 7th, 2019
Class Period Start:April 28th, 2017
Class Period End:June 5th, 2019
First Identified Complaint Filings
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