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NEW YORK, March 03, 2016 -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in United States District Court for the Northern District of California on behalf of all purchasers of Hortonworks, Inc. (NASDAQ:HDP) securities between November 4, 2015 and January 15, 2016, inclusive (“Class Period”).
Shareholders who incurred losses on Hortonworks, Inc. securities purchased within the class period are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774.
If you purchased shares of Hortonworks, Inc. within the period November 4, 2015 and January 15, 2016, inclusive, you may, no later than April 29, 2016, request that the Court appoint you lead plaintiff of the proposed class.
The filed complaint against Hortonworks, Inc. states that the company issued materially false and misleading statements about its capital. Hortonworks misrepresented that it had sufficient cash and cash equivalents to fund 12 months of working capital and capital expenditure needs and failed to disclose that they actually lacked adequate cash to meet those working capital and capital expenditure requirements over that period of time.
On Friday, January 15, 2016, post-market, Hortonworks announced it retained Goldman Sachs to raise $100 million in a secondary offering. In response to this surprising event, one analyst stated, “…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.”
When the truth about the Company's operations was revealed on January 15, 2016, the price of Hortonworks, Inc. stock declined $6.13 or nearly 37%, to close at $10.44 on January 19, 2016, the next trading day.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “Hortonworks Investigation.”
Attorney Advertising. Prior results do not guarantee or predict a similar outcome.
Contact: Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan, Esq. Gregory Stone, Director of Case and Financial Analysis Email: [email protected], [email protected] or [email protected] Tel: (800) 575-0735 or (212) 545-4774
