February 23, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Hortonworks Inc (NASDAQ:HDP) shares over potential securities laws violations by Hortonworks and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Hortonworks Inc (NASDAQ:HDP) concerning whether a series of statements by Hortonworks regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Hortonworks Inc went public in late 2014 and shares of Hortonworks Inc (NASDAQ:HDP) reached as high as $28.91 per share in August 2015.

On November 12, 2015, Hortonworks Inc filed a quarterly report with the Securities and Exchange Commission ('SEC') for the quarter ended September 30, 2015 on Form 10-Q, stating, in part: 'We believe that our existing cash and cash equivalents balance, together with cash generated from sales of our support subscriptions and professional services to customers, will be sufficient to meet our working capital and capital expenditure requirements for the next 12 months.'

On January 15, 2016, Hortonworks Inc announced it had retained Goldman Sachs to raise $100 million in a secondary offering.

On February 10, 2016, Hortonworks Inc announced its financial results for its fourth quarter and full year 2015. Hortonworks Inc reported that its annual Total Revenue rose from $46.05 million in 2014 to $121.94 million in 2015 and that its Net Loss increased from $177.37 million in 2014 to $179.12 million in 2015.

Shares of Hortonworks Inc (NASDAQ:HDP) declined to as low as $7.12 per share on February 9, 2016.

On February 23, 2016, NASDAQ:HDP shares closed at $10.31 per share.