BALA CYNWYD, Pa., April 9, 2016 /PRNewswire/ -- Law Office of Brodsky & Smith, LLC announces an investigation of Hortonworks, Inc. ("Hortonworks" or the "Company") (Nasdaq -HDP- News) for potential violations of federal securities laws and breaches of the Hortonworks Board's fiduciary duties.
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The investigation concerns a securities class action lawsuit commenced in the United States District Court for the Northern District of California. The complaint alleges that: (1) the Defendants made false and misleading statements including that the Company had sufficient cash and cash equivalents to fund 12 months of working capital and capital expenditure needs; (2) Hortonworks in actuality lacked the necessary cash to meet those expenditure requirements over that period of time; (3) Defendants were contemplating a significant offering to fund its operations; (4) as a result, the Defendants public statements were materially false and misleading at all relevant times. Following the disclosure of these facts, shares of Hortonworks stock declined significantly.
If you purchased shares of Hortonworks between November 4, 2015 and January 15, 2016, and wish to discuss the investigation, or if you have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC by April 29, 2016, who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, by visiting http://brodsky-smith.com/1057-hdp-hortonworks-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders.
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SOURCE Brodsky & Smith, LLC