Teradata Corporation

Registration Deadline:

08/13/2024

Submit Your Information

A securities class action has been filed in the USDC — MD. against Teradata Corporation (TDC) (“Teradata” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired Teradata securities between February 13, 2023 and February 12, 2024, both dates inclusive (the “Class Period”).

 

Teradata, together with its subsidiaries, provides a connected multicloud data platform for enterprise analytics. Historically, Teradata primarily dealt with the information technology (“IT”) departments of its customers. However, as the Company expanded its business model and strategic objectives, it increasingly began to engage with additional customer business units.

 

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

(1) 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;

(2) Teradata thus overstated its ability to close customer transactions within their intended timeframes under its expanded business model;

(3) Terada failed to timely close several customer transactions that it had factored into its outlook for 2023 ARR growth;

(4) as a result, the Company was unlikely to meet its full year 2023 Total and Public Cloud ARR expectations; and

(5) as a result, the Company’s public statements were materially false and misleading at all relevant times, thereby harming investors.

 

If you purchased Teradata securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

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