Glancy Prongay & Murray LLP Announces Investigation on Behalf of Cloudera, Inc. Investors (CLDR)

Business Wire 11-Jun-2019 9:00 PM

Glancy Prongay & Murray LLP ("GPM") announces an investigation on behalf of Cloudera, Inc. ("Cloudera" or the "Company") (NYSE: CLDR) investors concerning the Company and its officers' possible violations of federal securities laws.

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.

On June 5, 2019, the Company reported $103.8 million losses from operations for first quarter 2020, roughly double the year-over-year period. The Company disclosed that it was losing business despite its recent merger with Hortonworks, Inc. and that it suffered an elevated dollar churn rate of 15%. Moreover, the Company announced the abrupt retirement of its Chief Executive Officer.

On this news, the Company's share price fell $3.59, or nearly 41%, to close at $5.21 on June 6, 2019, thereby injuring investors.

If you purchased Cloudera securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9224, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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