NEW YORK, June 27, 2024 (GLOBE NEWSWIRE) -- Top law firm Bleichmar Fonti & Auld LLP announces the upcoming August 13, 2024 deadline in the Teradata Corp. (NYSE: TDC) securities class action lawsuit. If you invested in Teradata, you are encouraged to submit your information at https://www.bfalaw.com/cases/teradata-corp-investigation. Why is Teradata being Sued? On June 16, 2024, Teradata was sued for violations of the federal securities laws. The complaint alleges that between February 13, 2023 and February ...

Teradata (TDC) is expanding its footprint in the cloud analytics and AI landscape with the launch of Teradata VantageCloud Lake on Alphabet's (GOOGL) cloud business, Google Cloud. Aimed at providing a comprehensive cloud analytics and data platform for AI, VantageCloud Lake enables enterprises to scale predictive AI initiatives and power new generative AI use cases with enhanced security, transparency and performance, addressing the everyday challenges of AI deployment and production. The latest move bodes ...

Core Viewpoint - A class action securities lawsuit has been filed against Teradata Corporation, alleging that the company made false statements regarding its business model and its ability to meet revenue expectations for 2023 [1][2]. Group 1: Allegations of the Lawsuit - The complaint claims that Teradata's expanded business model led to longer transaction finalization times with customers [2]. - It is alleged that Teradata overstated its ability to close customer transactions within intended timeframes under this new model [2]. - The company reportedly failed to close several customer transactions that were included in its outlook for 2023 Annual Recurring Revenue (ARR) growth [2]. - As a result of these issues, Teradata is unlikely to meet its full-year 2023 total and public cloud ARR expectations [2]. - The lawsuit asserts that the company's public statements were materially false and misleading during the relevant period [2]. Group 2: Class Definition and Participation - The lawsuit seeks to recover losses for Teradata investors adversely affected by the alleged securities fraud between February 13, 2023, and February 12, 2024 [4]. - Investors who suffered losses during this timeframe have until August 13, 2024, to request the Court to appoint them as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [5]. Group 3: Legal Representation - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [6]. - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [6].

Core Viewpoint - Rosen Law Firm has announced a class action lawsuit on behalf of purchasers of Teradata Corporation securities between February 13, 2023, and February 12, 2024, due to alleged misleading statements and failure to disclose critical information regarding the company's business model and performance expectations [1][7]. Group 1: Lawsuit Details - The lawsuit claims that Teradata's expanded business model led to longer transaction finalization times, which were not disclosed to investors [8]. - It is alleged that Teradata overstated its ability to close customer transactions within intended timeframes, impacting its outlook for 2023 Total Annual Recurring Revenue (ARR) growth [8]. - The lawsuit asserts that Teradata failed to close several customer transactions that were factored into its 2023 ARR expectations, leading to materially false and misleading public statements [8]. Group 2: Participation Information - Investors who purchased Teradata securities during the class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [7]. - To join the class action, interested parties can visit the provided link or contact the law firm directly for more information [2][3].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Teradata Corporation (NYSE: TDC) regarding a class action lawsuit due to allegations of misleading statements and failure to disclose critical information during the class period from February 13, 2023, to February 12, 2024 [3][4]. Group 1: Class Action Details - Shareholders who purchased TDC shares during the specified class period are encouraged to contact the firm for potential lead plaintiff appointment, although this is not required for recovery participation [1]. - The deadline for shareholders to seek lead plaintiff status is August 13, 2024, and there is no cost or obligation to participate in the case [2][4]. Group 2: Allegations Against Teradata - The complaint alleges that Teradata issued materially false and misleading statements, failing to disclose that its expanded business model led to longer transaction finalization times with customers [4]. - It is claimed that Teradata overstated its ability to close customer transactions within intended timeframes and failed to timely close several transactions that were factored into its outlook for 2023 Annual Recurring Revenue (ARR) growth [4]. - As a result of these issues, Teradata is unlikely to meet its full-year 2023 total and public cloud ARR expectations, rendering its public statements materially false and misleading [4].

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].