The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Northern District of California on behalf of investors who purchased Hortonworks, Inc. (NASDAQ: HDP) securities between November 4, 2015 and January 15, 2016.
According to the complaint, throughout the Class Period, Defendants: (1) misrepresented that the Company had sufficient cash and cash equivalents to fund 12 months of working capital and capital expenditure needs; (2) failed to disclose that Hortonworks in actuality lacked the necessary cash to meet those expenditure requirements over that period of time; and (3) failed to disclose the Company was contemplating a significant offering to fund operations. As a result of the aforementioned, public statements made by defendants were materially false and misleading at all relevant times.
If you suffered a loss in Hortonworks you have until April 29, 2016 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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