NEW YORK, Feb. 19, 2016 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Hortonworks, Inc. ("Hortonworks" or "the Company") (NASDAQ: HDP). Such investors are advised to contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz at firstname.lastname@example.org or 212-697-6484.
This investigation concerns whether Hortonworks and certain of its officers and/or directors have violated the Federal Securities Laws under the Securities Exchange Act of 1934 (the "Exchange Act").
On November 12, 2015, Hortonworks filed a 10-Q quarterly report with the SEC for the quarter ended September 30, 2015. The report, in part, stated: "We believe that our existing cash and cash equivalents balance, together with cash generated from sales of our support subscriptions and professional services to customers, will be sufficient to meet our working capital and capital expenditure requirements for the next 12 months." Following this report, Hortonworks stock went up to $22.08 per share, roughly a 26% gain.
On January 15, 2016, post-market, Hortonworks stated it had retained Goldman Sachs to raise $100 million in a secondary offering. Analysts were surprised with this statement, as one was quoted, "We believe it will be incumbent on HDP during its roadshow to show why this offering, announced in this way, at this time, should not be interpreted as evidence of serious difficulty." Following this news, on January 19, 2016, the next trading day, Hortonworks stock fell $6.13, or nearly 37%, to close at just $10.44 per share.
If you are aware of any facts relating to this investigation, or purchased shares of Hortonworks, you can assist this investigation by visiting the firm's website: http://www.bgandg.com/#!hdp/ujphi. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | firstname.lastname@example.org
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