TDC INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Announces that Teradata Corporation Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

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].