Teradata Corporation Investors: Class action lawsuit filed on behalf of investors; the Portnoy Law Firm

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].