SAN FRANCISCO, July 22, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Cloudera Inc. (NYSE: CLDR) of the August 6, 2019 Lead Plaintiff deadline in the securities class action, Christie v. Cloudera, Inc. et al., No. 5:19-cv-03221, pending in the U.S. District Court for the Northern District of California.

If you purchased or otherwise acquired Cloudera securities between April 28, 2017 and June 5, 2019 (the “Class Period”) and suffered in excess of $50,000 in losses you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case.

If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than August 6, 2019. Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:

https://www.hbsslaw.com/cases/CLDR

or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing

CLDR@hbsslaw.com.

According to the complaint, Defendants misrepresented and concealed: (1) Cloudera’s ability to identify large enterprises interested in adopting the Company’s Hadoop-based platform; (2) that Cloudera needed to expend and increasing amount of capital on sales and marketing activities to generate new revenues, even as new revenue opportunities were diminishing; and (3) that Cloudera had materially diminished sales opportunities and prospects and could not generate annual positive cash flow.

“We’re focused on investors’ losses and the extent to which Defendants may have misled investors about the demand for its Hadoop-based platform,” said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding Cloudera should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email CLDR@hbsslaw.com.

About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 510-725-3000