NEW YORK, Feb. 19, 2016 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Hortonworks, Inc. ("Hortonworks" or the "Company") (NASDAQ: HDP).
The investigation focuses on whether the Company and its executives violated federal securities laws by making misleading statement about the Company's ability to meet its working capital and capital expenditure requirements with cash and cash equivalents obtained through its sales.
Specifically, during post-market hours on January 15, 2016, Hortonworks announced it had retained Goldman Sachs to raise $100 million in a secondary offering. The announcement surprised the market because in its quarterly report for the quarter ended September 30, 2015 the Company stated that its cash reserves were enough to finance operations for the upcoming 12 months.
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If you invested in Hortonworks stock or options between November 12, 2015 and January, 18, 2016 and would like to discuss your legal rights, visit www.faruqilaw.com/HDP. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Hortonworks' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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