CLOUDERA LITIGATION UPDATE by Former Louisiana Attorney General: Motion for Lead Plaintiff filed by Kahn Swick & Foti, LLC Unopposed in Securities Class Action Lawsuit Against Cloudera, Inc. - CLDR

This action is pending in the United States District Court for the Northern District of California.

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Saturday, June 27, 2020
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Legal, Professional services, Charles Foti, Foti, Cloudera, Computing, Digital technology, LOUISIANA
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United States, LOUISIANA
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Summary
Key Points: 
  • This action is pending in the United States District Court for the Northern District of California.
  • On May 18, 2020, the former lead plaintiff, represented by KSF, filed a renewed Motion for Lead Plaintiff that is unopposed.
  • The case is In re Cloudera, Inc. Securities Litigation, 19-cv-03221.
  • About Kahn Swick & Foti, LLC
    KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nations premier boutique securities litigation law firms.


Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., provide the following update on the securities class action lawsuit against Cloudera, Inc. (NYSE: CLDR) and other named Defendants on behalf of all persons who purchased and/or otherwise acquired Cloudera common stock: (i) pursuant or traceable to the Registration Statement filed in connection with Cloudera’s merger with Hortonworks, Inc. on January 3, 2019 (“Merger”); and/or (ii) between April 28, 2017 and June 5, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.

On March 18, 2020, the presiding Court vacated its previous Order appointing Lead Plaintiff, reopened the lead plaintiff selection process and required that notice be reissued to include shareholders who acquired Cloudera stock in exchange for their shares of Hortonworks, Inc. in the Merger. On May 18, 2020, the former lead plaintiff, represented by KSF, filed a renewed Motion for Lead Plaintiff that is unopposed.

If you have information relating to this case, are a Cloudera shareholder, or a former Hortonworks shareholder who acquired Cloudera stock in the Merger, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/contact/ to learn more.

The case is In re Cloudera, Inc. Securities Litigation, 19-cv-03221.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

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