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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Hortonworks, Inc. (NASDAQGS: HDP) to Cloudera, Inc. (NYSE: CLDR). Under the terms of the transaction, Hortonworks shareholders will receive 1.305 shares of Cloudera for each share of Hortonworks stock they own.
The Hortonworks merger investigation concerns whether the Board of Hortonworks breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Cloudera, Inc. is underpaying for Hortonworks shares, thus unlawfully harming Hortonworks shareholders.
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