DALLAS, TX / ACCESSWIRE / October 11, 2018 / Former United States Securities and Exchange Commission attorney Willie Briscoe is investigating potential claims against the Board of Directors of Hortonworks, Inc. ("Hortonworks") (NASDAQ: HDP) concerning the sale to Cloudera, Inc. ("Cloudera") (CLDR). Under the terms of the agreement, Hortonworks shareholders will only receive 1.305 shares of Cloudera common stock for each share owned. Based on the closing price of Cloudera before the deal was announced, the consideration is valued at $21.83 per share, which is virtually no premium over the 52-week high and lower than at least one analyst's estimated value of $36.00 per share.
If you are an affected investor, and you want to learn more about the investigation or if you have information that you believe would be helpful to our investigation of the fairness of the proposed transaction, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at [email protected] or by calling (888) 809-2750. There is no cost or fee to you.
The investigation centers on whether the Board of Directors of Hortonworks is acting in the shareholders' best interests, whether the board considered alternatives to the acquisition, and whether the board has employed an adequate process to review and act on the proposed transaction. Notably, at least one analyst with Yahoo! Finance believes the true inherent value of the stock could be as high as $36.00.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
The Briscoe Law Firm, PLLC
3131 McKinney Avenue, Suite 600
Dallas, Texas 75204
Toll free: 888-809-2750
SOURCE: The Briscoe Law Firm, PLLC