Gibbs Law Group Investigates Potential Securities Law Violations
OAKLAND, Calif.–(BUSINESS WIRE)–$CLDR #CLDR–Cloudera, Inc. shares have declined by more than 40% on news of its
CEO’s departure, disappointing first-quarter financial results and
revenue forecast, and multiple analyst downgrades. Gibbs Law Group is
investigating a potential Cloudera
Class Action Lawsuit on behalf of investors who lost money in
Cloudera (NYSE: CLDR) stock.
To speak privately with an attorney regarding this class action
lawsuit investigation, click
here.
On June 5, 2019, Cloudera announced that CEO Tom Reilly would be leaving
the company, and lowered its revenue outlook for 2020 by $90 million.
CNBC published an article on Cloudera’s announcements, stating
“[C]loudera continues to bleed cash and is struggling to generate
consistent growth, raising concerns about the future viability of its
data analytics technology.”
Multiple analysts downgraded Cloudera, including Needham’s Jack Andrews,
who stated,
“A CEO departure, the retraction of a near-term target financial
model, lack of clarity regarding a major new product launch, and most
alarmingly, a visible uptick in customer churn, cause us to reevaluate
our stance.”
Following this news, shares of Cloudera plummeted more than 40% in
intraday trading on June 6, 2019, causing significant harm to investors.
If you invested in Cloudera and would like to speak privately with a
securities attorney to learn more about our investigation and your legal
rights, visit our website
or contact our securities team directly at (888) 410-2925. Our
investigation concerns whether Cloudera and certain of its officers
and/or directors have violated federal securities laws.
Gibbs Law Group represents individual and institutional investors
throughout the country in securities
litigation to correct abusive corporate governance practices,
breaches of fiduciary duty, and proxy violations. The firm has recovered
over a billion dollars for its clients against some of the world’s
largest corporations, and our attorneys have received numerous honors
for their work, including “Best Lawyers in America,” “Top Plaintiff
Lawyers in California,” “California Lawyer Attorney of the Year,” “Top
Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top
Cybersecurity/ Privacy Attorneys Under 40.”
This press release may constitute Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
CONTACT: EILEEN EPSTEIN
PHONE: 510.350.9728
EMAIL: [email protected]
