SHAREHOLDER ALERT: Pawar Law Group Announces a Securities Class Action Lawsuit Against Cloudera, Inc. CLDR

Globe Newswire 14-Jun-2019 3:29 PM

NEW YORK, June 14, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Cloudera, Inc. (NYSE:CLDR) from April 28, 2017 through June 5, 2019, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Cloudera investors under the federal securities laws.

To join the Cloudera class action, go to http://pawarlawgroup.com/cases/cloudera-inc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Cloudera was finding it increasingly difficult to identify large enterprises interested in adopting Cloudera's Hadoop-based platform; (2) Cloudera needed to expend an increasing amount of capital on sales and marketing activities to generate new revenues; (3) Cloudera had materially diminished sales opportunities and prospects and could not generate annual positive cash flows for the foreseeable future; (4) the primary motivation for Cloudera's merger with Hortonworks was to generate growth through the acquisition of Hortonworks' existing customers (as opposed to obtaining them organically); (5) the purported synergies and other benefits of the merger with Hortonworks were materially overstated; and (6) defendants' positive statements about Cloudera's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 6, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

No class has been certified.  Until a class is certified, you are not represented by counsel unless you hire one.  You may hire counsel of your choice.  You may also do nothing at this time and be an absent member of the class.  Your ability to share in any future recovery is not dependent upon being a lead plaintiff.

Pawar Law Group represents investors from around the world.
-------------------------------

Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
info@pawarlawgroup.com

Image for Press Release 830961

Pawar-Law-Group-logo-gold.png

Image for Press Release 830961