Cloudera Investors Must Pick New Lead Plaintiff After Suit Fixes

Cloudera Inc. investors who accused the company of misleading them about its ability to compete within the cloud industry must again select a lead plaintiff after filing a consolidated class complaint, a California federal district judge ruled.

The former lead plaintiff’s new complaint added defendants, new claims, and expanded the proposed class, the U.S. District Court for the Northern District of California said Wednesday. Judge Lucy H. Koh agreed with the defendants that the additions “‘fundamentally altered’ the nature of this case.”

Koh appointed lead plaintiffs and approved lead counsel—Levi & Korsinsky LLP—in December. The defendants asked for more time ...