Cloudera Defeats Investor Suit Over Touted Cloud Capabilities

Cloudera Inc.'s statements that it had “cloud-native architecture” weren’t misleading because the term “cloud-native” lacked a distinctive meaning during a period that included two public offerings and a merger, a federal court said in dismissing a shareholder suit.

Other public statements by the company and its executives and board members also fail to support securities claims, Judge Maxine M. Chesney said Tuesday for the US District Court for the Northern District of California. She dismissed the third version of the class complaint with finality.

Investors accused the enterprise data cloud platform company of misleading them about its technology and competitiveness ...