Lawsuit filed for Investors who lost money with shares of Teradata Corporation (NYSE: TDC)

An investor, who purchased shares of Teradata Corporation (NYSE: TDC), filed a lawsuit in the U.S. District Court for the Southern District of California over alleged violations of Federal Securities Laws by Teradata Corporation in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Teradata Corporation (NYSE: TDC) have certain options and for certain investors are short and strict deadlines running. Deadline: August 13, 2024. NYSE: TDC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

San Diego, CA based Teradata Corporation, together with its subsidiaries, provides a connected multi-cloud data platform for enterprise analytics. To measure the Company's progress in achieving its strategic objectives, Teradata Corporation utilizes certain financial and performance metrics including Total Annual Recurring Revenue ("ARR")-or the annual value at a point in time of all recurring contracts, including subscription, cloud, software upgrade rights, and maintenance-and, included within Total ARR, Public Cloud ARR-or the annual value at a point in time of all contracts related to public cloud implementations of its cloud data platform. Accordingly, Teradata Corporation's Total ARR for a certain time period is determined, in significant part, by the number of customer transactions the Company is able close in that period.
On February 13, 2023, Teradata Corporation issued a press release reporting its Q4 and full year 2022 financial results. In providing an outlook for the full-year 2023, the press release stated that "Public cloud ARR is expected to increase in the range of 53% to 57% year-over-year" and "Total ARR is expected to increase in the range of 6% to 8% year-over-year."

On December 7, 2023, at a Barclays Global Technology Conference Teradata's Chief Financial Officer Defendant Claire Bramley revealed that the Company had "an eight-figure deal that potentially [. . .] could get pushed out [of Q4 2023]", the effect of which " could put [the Company] towards the low end or slightly below the range for cloud ARR that [it] previously gave."

On February 12, 2024, Teradata Corporation released its fourth quarter and full year 2023 financial results, revealing cloud and total annual recurring revenue falling short of the Company's original 2023 outlook due to "timing issues" and "a handful of large deals" that got pushed back into 2024. Additionally, the Company indicated that it was seeing significant declines for its on-premise solutions.

Shares of Teradata Corporation (NYSE: TDC) declined from $49.29 per share on January 22, 2024 to as low as $36.84 per share on February 28, 2024.

The plaintiff claims that between February 13, 2023 and February 12, 2024, the defendants made false and/or misleading statements and/or failed to disclose that 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, that Teradata Corporation thus overstated its ability to close customer transactions within their intended timeframes under its expanded business model, that Teradata Corporation failed to timely close several customer transactions that it had factored into its outlook for 2023 ARR growth, that as a result, the Company was unlikely to meet its full year 2023 Total and Public Cloud ARR expectations, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Teradata Corporation (NYSE: TDC) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.