Teradata(US:TDC) Prnewswireยท2024-06-25 09:45Core 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].