Core Viewpoint - Teradata Corp. is facing a securities class action lawsuit due to allegations of making materially false and misleading statements regarding its business model, pipeline health, and revenue growth prospects between February 13, 2023, and February 12, 2024 [2][3]. Group 1: Allegations and Impact - The lawsuit claims that Teradata's expanded business model led to significant delays in closing large customer transactions, resulting in an overstatement of the company's pipeline health and revenue growth prospects [3]. - Investors reportedly began to learn the truth about the company's situation on December 7, 2023, when Teradata disclosed potential delays in large deals, causing the stock price to drop by $2.89 per share, or 6%, closing at $43.40 [4]. - On February 12, 2024, Teradata announced that "deal timing issues" led to missing its previously issued Annual Recurring Revenue (ARR) guidance, which resulted in a further decline of $10.57 per share, or 22%, closing at $38.22 [4]. Group 2: Legal Representation and Actions - Bleichmar Fonti & Auld LLP is encouraging investors who lost money on their Teradata investment to submit their information to explore their rights [5]. - Investors may be eligible to lead the case on behalf of shareholders, with all representation on a contingency fee basis, meaning there are no upfront costs for shareholders [7].

Core Viewpoint - Teradata's financial performance for Q4 and full-year 2023 fell short of expectations, leading to a class action lawsuit from investors who suffered losses during the Class Period from February 13, 2023, to February 12, 2024 [3][6][10]. Financial Performance - Teradata projected a 53% to 57% year-over-year increase in Public Cloud ARR and a 6% to 8% increase in Total ARR for 2023 [2]. - Actual results showed a 48% increase in Public Cloud ARR and a 6% increase in Total ARR, both below expectations due to "deal timing issues" [3][10]. Investor Impact - The decline in Teradata's stock value resulted in significant losses for investors, prompting a class action lawsuit [4][6]. - Following the announcement of potential delays in major deals, Teradata's stock price dropped by $2.89 per share (6.24%) on December 7, 2023, and by $10.57 per share (21.66%) on February 13, 2024 [11][12]. Business Model and Strategy - Teradata has evolved its business model to engage more deeply with customer business units beyond IT departments [8]. - The company tracks its performance using Total Annual Recurring Revenue (ARR) and Public Cloud ARR, which are critical for assessing its growth and customer transaction completion [9]. Misleading Statements - Throughout the Class Period, Teradata made materially false and misleading statements regarding its business operations and compliance, including overstating its ability to finalize transactions and meet ARR expectations [10].

Core Viewpoint - Teradata's financial performance for Q4 and full year 2023 fell short of expectations, leading to a significant decline in stock price and the initiation of a class action lawsuit against the company and its executives [2][3][5]. Financial Performance - Teradata reported that public cloud ARR increased by only 48% and total ARR increased by 6% for the full year 2023, which was below the previously issued expectations [13]. - The company had initially projected public cloud ARR growth in the range of 53% to 57% year-over-year and total ARR growth in the range of 6% to 8% year-over-year [2]. Stock Price Reaction - Following the announcement of disappointing financial results, Teradata's stock price fell by $10.57 per share, or 21.66%, closing at $38.22 per share on February 13, 2024 [3]. Class Action Lawsuit - A class action lawsuit has been filed against Teradata and certain officers, representing all individuals and entities that purchased Teradata securities between February 13, 2023, and February 12, 2024 [5][12]. - The lawsuit alleges that the defendants made materially false and misleading statements regarding the company's business operations and compliance policies, which led to significant losses for investors [12][14]. Strategic Challenges - Teradata's Chief Executive Officer indicated that the company faced "deal timing issues" due to the complexity of engaging with multiple decision-makers within customer organizations, which delayed the finalization of several large transactions [9]. - The company acknowledged that these delays impacted its ability to meet its ARR growth expectations for 2023 [9][12]. Business Model Evolution - Teradata has shifted its business model to engage with additional customer business units beyond just IT departments, which has resulted in longer transaction finalization times [11][12].

Core Viewpoint - A securities class action lawsuit has been filed against Teradata Corporation for alleged violations of federal securities laws, including fraudulent misrepresentations and omissions regarding its business and operations, leading to significant investor losses [1]. Financial Performance - Teradata's CFO disclosed at a Barclays Global Technology Conference that an "eight-figure deal" might be delayed, potentially affecting the company's cloud Annual Recurring Revenue (ARR) guidance, which led to a stock price drop of $2.89 per share, or 6.24%, on December 7, 2023 [2]. - In its fourth quarter and full year 2023 financial results announced on February 12, 2024, Teradata reported a 48% increase in public cloud ARR, which was below the previously issued guidance, and a total ARR increase of only 6%, at the low end of its guidance [10]. - The CEO attributed the disappointing results to "deal timing issues," which the company was aware of when it issued its guidance in February 2023, despite continuously reaffirming this guidance [10]. Allegations of Misconduct - The lawsuit claims that Teradata's misleading statements and omissions regarding its financial outlook and performance metrics have caused significant losses to investors [1]. - In February 2023, Teradata projected a public cloud ARR increase of 53% to 57% year-over-year and a total ARR increase of 6% to 8% year-over-year, which it failed to meet in its subsequent financial disclosures [11].

Core Viewpoint - The Teradata class action lawsuit alleges that the company made misleading statements regarding its business model and revenue expectations, leading to significant stock price declines when the truth was revealed [2][3][8]. Group 1: Allegations of Misleading Statements - The lawsuit claims that Teradata's expanded business model resulted in longer transaction finalization times, which were not disclosed to investors [2]. - It is alleged that Teradata overstated its ability to close customer transactions within expected time frames, impacting its 2023 Annual Recurring Revenue (ARR) outlook [2]. - The company reportedly failed to close several customer transactions that were factored into its 2023 ARR growth expectations, leading to a likely shortfall in meeting its revenue targets [2]. Group 2: Impact on Financial Performance - On February 12, 2024, Teradata announced that its public cloud ARR increased by only 48% and total ARR by 6% for the full year 2023, which was significantly below prior expectations [3]. - Following this announcement, Teradata's stock price fell nearly 22%, indicating a strong market reaction to the disappointing performance metrics [3]. - Additionally, on December 7, 2023, the CFO indicated a potential delay in a significant deal, which could further impact ARR, resulting in a more than 6% drop in stock price [8]. Group 3: Class Action Details - The class action lawsuit is titled Ostrander v. Teradata Corporation and is filed in the Southern District of California, charging Teradata and its executives with violations of the Securities Exchange Act of 1934 [6]. - Investors who purchased Teradata securities between February 13, 2023, and February 12, 2024, have until August 13, 2024, to seek appointment as lead plaintiff in the lawsuit [6]. - The lead plaintiff process allows any investor with significant financial interest in the case to represent the class, with the ability to select their own legal counsel [9].

Core Viewpoint - Teradata is facing a securities class action lawsuit alleging that the company and its executives made materially false and misleading statements regarding its business model, pipeline health, and revenue growth prospects [7]. Group 1: Allegations and Impact - The lawsuit claims that Teradata's expanded business model led to significant delays in closing large customer transactions, resulting in an overstatement of the company's pipeline health and revenue growth potential [1][7]. - Investors reportedly began to realize the issues when Teradata disclosed on December 7, 2023, that certain large deals could be delayed, causing the stock price to drop by $2.89 per share, or 6%, closing at $43.40 [8]. - On February 12, 2024, Teradata announced that "deal timing issues" led to missing its previously issued Annual Recurring Revenue (ARR) guidance, resulting in a further decline of $10.57 per share, or 22%, closing at $38.22 [8]. Group 2: Legal Proceedings - The law firm Bleichmar Fonti & Auld LLP is leading the class action lawsuit, with a deadline for investors to submit their information set for August 13, 2024 [6]. - The representation in the lawsuit is on a contingency fee basis, meaning shareholders will not incur any court costs or litigation expenses [3].

Core Viewpoint - A securities class action lawsuit has been filed against Teradata Corporation for alleged violations of federal securities laws, including fraudulent misrepresentations and omissions regarding its business and operations, leading to significant investor losses [1][3]. Financial Performance - On February 13, 2023, Teradata projected a 53% to 57% year-over-year increase in Public Cloud Annual Recurring Revenue (ARR) and a 6% to 8% increase in Total ARR for 2023 [2]. - In its fourth quarter and full year 2023 results announced on February 12, 2024, Teradata reported a 48% increase in Public Cloud ARR and a 6% increase in Total ARR, both falling short of prior guidance [14]. Stock Price Impact - Following the announcement of potential delays in a significant deal on December 7, 2023, Teradata's stock price dropped by $2.89, or 6.24%, from $46.29 to $43.40 per share [6]. - After the disappointing financial results on February 13, 2024, Teradata's stock price fell by $10.57, or 21.66%, from $48.79 to $38.22 per share [14].

NEWTOWN, Pa., June 20, 2024 (GLOBE NEWSWIRE) -- Edelson Lechtzin LLP, a leading class action law firm, is investigating securities fraud claims on behalf of all investors of Teradata Corporation (NYSE: TDC) between February 13, 2023, and February 12, 2024, inclusive (the "Class Period"). What is a Lead Plaintiff? Background on Teradata Corporation The Securities Fraud Claims During the Barclays Global Technology Conference on December 7, 2023, Teradata's Chief Financial Officer, Claire Bramley, mentioned th ...

The complaint further alleges that, in reality, Teradata's expanded business model caused significant delays in the closing of large customer transactions. As a result, it is alleged that the company overstated the health of its pipeline and revenue growth prospects. BFA Law encourages investors who lost money on their Teradata investment to submit your information to find out about your rights. NEW YORK, June 20, 2024 (GLOBE NEWSWIRE) -- Leading law firm Bleichmar Fonti & Auld LLP announces the upcoming Au ...

About the Lawsuit ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a ...