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NYSE: TDC: Kessler Topaz Meltzer & Check, LLP Notifies Investors of a Securities Class Action Lawsuit Filed Against Teradata Corporation
TeradataTeradata(US:TDC) GlobeNewswire News Roomยท2024-06-21 13:30

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].