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Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Northern District of California, case No. 18-cv-06923, on behalf of shareholders of Hortonworks, Inc. ("Hortonworks" or the "Company") (NASDAQ:HDP) who have been harmed by Hortonworks' and its board of directors' (the "Board") alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the proposed merger of the Company with Cloudera, Inc. ("Cloudera").
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On October 3, 2018, the Board caused the Company to enter into an Agreement and Plan of Merger ("Proposed Transaction") under which each outstanding share of Hortonworks common stock will be exchanged for 1.305 shares of Cloudera common stock (the "Merger Consideration"). The shareholder vote on the Proposed Transaction is expected to occur on December 28, 2018.
The complaint alleges that the Form S-4 Registration Statement (the "S-4") filed with the Securities and Exchange Commission ("SEC") on November 5, 2018, violates Sections 14(a) and 20(a) of the Exchange Act because it provides materially incomplete and misleading information about the Company and the Proposed Transaction, including information concerning the Company's financial projections and analysis, on which the Board relied to recommend the Proposed Transaction as fair to Hortonworks shareholders.
If you wish to obtain information concerning this action, you can do so by clicking here: www.faruqilaw.com/HDPnotice.
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Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud. Faruqi & Faruqi, LLP, was founded in 1995 and the firm maintains its principal office in New York City, with offices in Delaware, California, Georgia, and Pennsylvania.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from the date of this notice. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:
View source version on businesswire.com: https://www.businesswire.com/news/home/20181205005869/en/
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.