Final Deadline Reminder For Hortonworks, Inc. Shareholders: April 29, 2016

RADNOR, PA / ACCESSWIRE / April 25, 2016 / The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors that a shareholder class action lawsuit has been filed against Hortonworks, Inc. (NASDAQ: HDP) (“Hortonworks” or the “Company”) on behalf of purchasers of the Company’s securities between November 4, 2015 and January 15, 2016, inclusive (the “Class Period”).

FINAL REMINDER: Investors who purchased Hortonworks common stock during the Class Period may, no later than April 29, 2016, petition the Court to be appointed as a lead plaintiff representative of the class. For additional information please visit https://www.ktmc.com/new-cases/hortonworks-inc.

Hortonworks shareholders who wish to discuss their legal rights or interests with respect to this action are encouraged to contact Kessler Topaz Meltzer & Check (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299 – 7706 or (610) 667 – 7706, or via e-mail at info@ktmc.com.

The shareholder lawsuit alleges that Hortonworks and certain of its executive officers made a series of false and misleading statements and failed to disclose material adverse facts to investors during the Class Period. Specifically, the defendants are alleged to have: (i) misrepresented that Hortonworks had sufficient cash and cash equivalents to fund 12 months of working capital and capital expenditure needs; (ii) failed to disclose that Hortonworks in actuality lacked adequate cash to meet those working capital and capital expenditure requirements over that period of time; and (iii) failed to disclose that they were contemplating a significant offering to fund the Company’s operations. As a result of the foregoing, the defendants’ public statements are alleged to have been materially false and misleading when made.

On January 15, 2016, Hortonworks announced that it had retained Goldman Sachs to raise $100 million in a secondary stock offering. Analysts expressed surprise, with one analyst stating: “We believe it will be incumbent on [Hortonworks] during its roadshow to show why this offering, announced in this way, at this time, should not be interpreted as evidence of serious difficulty.”

On this news, shares of Hortonworks common stock declined $6.13, or 37 percent, to close the following trading day at $10.44 per share.

Hortonworks shareholders who purchased their
securities during the Class Period (November 4, 2015 – January 15, 2016) may, no later than April 29, 2016, petition
the Court to be appointed as a lead plaintiff representative of the class.

Members of the purported class may petition to be appointed as a lead plaintiff the Court through Kessler Topaz Meltzer & Check or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. A class member’s ability to share in any recovery is not affected by the decision of whether or not to petition the Court to be appointed as a lead plaintiff.

Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP

Darren J. Check, Esq.

D. Seamus Kaskela, Esq.

Adrienne O. Bell, Esq.

280 King of Prussia Road

Radnor, PA 19087

(888) 299-7706

SOURCE: Kessler Topaz Meltzer & Check, LLP

ReleaseID: 439147