BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith 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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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