Robbins LLP is Investigating Allegations that Teradata Corporation (TDC) Misled Investors Regarding its Business Prospects
Robbins LLP informs 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.
The Allegations
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) Terada 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.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.