LOS ANGELES, June 11, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Cloudera, Inc. (“Cloudera” or “the Company”) (NYSE: CLDR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Cloudera reported results for the first quarter of fiscal year 2020 on June 5, 2019. The Company provided underwhelming 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, the Company announced the abrupt departure of CEO Tom Reilly. Based on this news, shares of Cloudera have fallen by more than 40% in intraday trading on June 6, 2016.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
Cell: 424-303-1964
info@schallfirm.com