January 14, 2019 - The case was voluntarily dismissed.

November 15, 2018 - An investor, who currently holds shares of Hortonworks, Inc. (NASDAQ: HDP), filed a lawsuit against the takeover of Hortonworks, Inc. The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: HDP stockholders by agreeing to sell Hortonworks, Inc. cheaply via an unfair process.

On October 3, 2018, Cloudera, Inc. (NYSE: CLDR) and Hortonworks, Inc. (Nasdaq: HDP) jointly announced that they have entered into an agreement under which the companies will combine in an all-stock merger of equals. Under the terms of the transaction agreement, Hortonworks stockholders will receive 1.305 common shares of Cloudera for each share of Hortonworks stock owned. Based on a closing price of $16.90 of NYSE: CLDR shares on October 2, 2018, shareholders of Hortonworks, Inc. (NASDAQ: HDP) will receive a value of approximately $22.05 per NASDAQ: HDP share.

However, plaintiff claims that the proposed consideration NASDAQ: HDP shareholders will receive is grossly inadequate and undervalues the Hortonworks, Inc. Indeed, at least one analyst has set the price for NASDAQ: HDP shares at $31 per share In addition, the plaintiff alleges that the process is also unfair Hortonworks, Inc stockholders. Indeed, directors and executive officers of Cloudera and Hortonworks, as well as affiliated entities, have each already agreed to vote shares held by them in favor of the transaction.