NEW YORK, June 7,2019 /PRNewswire/ -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Cloudera Inc. ("Cloudera" or the "Company") (NYSE: CLDR) resulting from allegations that Cloudera and/or its executives may have issued materially misleading information to the investing public.
If you purchased Cloudera securities, and/or would like to discuss your legal rights and options please visit Cloudera CLDR Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
The investigation is focused on whether Cloudera issued false and/or misleading statements and/or failed to disclose information relevant to investors. On June 5, 2019, Cloudera reported results for the first quarter of fiscal year 2020. Cloudera provided low 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, Cloudera announced the departure of its Chief Executive Officer Tom Reilly. Analysts noted that the "wheels came off the bus" this quarter with sales execution issues, secular headwinds and cultural challenges.
On this news, shares of Cloudera fell by more than 40% in intraday trading on June 6, 2019, causing significant harm to investors.
If you purchased Cloudera securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/cloudera-cldr-shareholder-lawsuit-class-action-fraud-stock-139/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE Bernstein Liebhard LLP