The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Cloudera, Inc. (NYSE: CLDR) securities between April 28, 2017 and June 5, 2019.
According to the Cloudera, Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (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, even as new revenue opportunities were diminishing; and (iii) Cloudera had materially diminished sales opportunities and prospects and could not generate annual positive cash flows.
If you suffered a loss in Cloudera, Inc. you have until August 6, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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