Eileen Epstein Carney
Eileen works closely with investors in securities cases and has over a decade of experience in the legal world. She received her law degree from American University in 2005.
Cloudera Investor Lawsuit Investigation
NYSE: CLDR drops 40%, CEO resigns
Our attorneys are investigating a Cloudera class action lawsuit after shares of Cloudera, Inc. (NYSE: CLDR) dropped over 40% upon release of its earnings report. The report showed mixed first quarter earnings and a severe decline in projected annual revenue. The negative earnings report was coupled with the surprise resignation of Cloudera’s CEO. Many investors are angry at the company’s lack of transparency.
Cloudera, Inc. (CLDR) Stock Losses?
You may be eligible to recover your losses.
Cloudera Announces Failed Fiscal Quarter and Surprise Resignation of CEO; Stock Prices Plummet over 40%
On June 5th, Cloudera, Inc. released mixed first-quarter results for 2020 and lowered its full-year revenue forecast by over $90 million. The company then announced the surprise resignation of its CEO.
Needham’s Analyst, Jack Andrews, downgraded the stock by two notches and wrote
“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”
According to the Motley Fool, Cloudera is currently spending 63.7% of their revenue on sales and marketing; way above the 30-50% average for most software companies. However, these high spending rates do not match the company’s low growth rates. As a result, Citi’s Tyler Radke argued that there’s “still room for things to get worse.”
On this news, CLDR shares dropped over 40% and have yet to recover. Our firm will continue to investigate.
Our Securities Lawyers Have a Winning Record Against Companies Like Cloudera, Inc.
Our securities lawyers have recovered over a billion dollars on behalf of our clients against behemoths, such as Chase Bank, Mastercard, and Anthem Blue Cross Blue Shield. Read more about our results.
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Our Featured Securities Team
Dave Stein
David’s advocacy has generated major recoveries for consumers impacted by financial fraud. He was named to the Top 40 Under 40 by Daily Journal and a “Rising Star in Class Actions” by Law360.
Amanda Karl
Amanda is spearheading a securities lawsuit against NantHealth concerning fraudulent statements to investors about the success of its key product.
About Gibbs Law Group
Gibbs Law Group is a California-based law firm committed to protecting the rights of clients nationwide who have been harmed by corporate misconduct. We represent individuals, whistleblowers, employees, and small businesses across the U.S. against the world’s largest corporations. Our award-winning lawyers have achieved landmark recoveries and over a billion dollars for our clients in high-stakes class action and individual cases involving consumer protection, data breach, digital privacy, and federal and California employment lawsuits. Our attorneys have received numerous honors for their work, including “Top Plaintiff Lawyers in California,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” “Best Lawyers in America,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
