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LOS ANGELES, June 11, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Cloudera, Inc. (“Cloudera” or “the Company”) (NYSE: CLDR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Cloudera reported results for the first quarter of fiscal year 2020 on June 5, 2019. The Company provided underwhelming guidance for the second quarter, and reduced its full-year guidance sharply, from a range of $835 million to $855 million down to $745 million to $765 million. At the same time, the Company announced the abrupt departure of CEO Tom Reilly. Based on this news, shares of Cloudera have fallen by more than 40% in intraday trading on June 6, 2016.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm
Brian Schall, Esq.