SAN DIEGO, July 15, 2024 (GLOBE NEWSWIRE) — Robbins LLP reminds investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired Teradata Corporation (NYSE: TDC) securities between February 13, 2023 and February 12, 2024. Teradata provides a connected multi-cloud data platform for enterprise analytics.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Teradata Corporation (TDC) Misled Investors Regarding it Business Prospects
According to the complaint, during the class period, defendants failed to disclose that: (i) under Teradata’s expanded business model, which involved engagement with additional customer business units and decisionmakers, transactions with the Company’s customers took longer to finalize; (ii) Teradata thus overstated its ability to close customer transactions within their intended timeframes under its expanded business model; (iii) Teradata failed to timely close several customer transactions that it had factored into its outlook for 2023 ARR growth; and (iv) as a result, the Company was unlikely to meet its full year 2023 Total and Public Cloud ARR expectations. When the truth was revealed, Teradata’s stock price fell $10.57 per share, or 21.66%, to close at $38.22 per share on February 13, 2024.
What Now: You may be eligible to participate in the class action against Teradata Corporation. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by August 13, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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