Teradata(US:TDC) GlobeNewswire News Roomยท2024-07-15 13:09Core Viewpoint - A securities class action lawsuit has been filed against Teradata Corporation for alleged violations of federal securities laws, including fraudulent misrepresentations about its business and operations, leading to significant investor losses [1]. Financial Performance - Teradata reported its fourth quarter and full year 2022 financial results on February 13, 2023, projecting 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 [3]. - On February 12, 2024, Teradata announced that Public Cloud ARR increased by only 48% for the full year 2023, which was below the company's guidance, and Total ARR increased by only 6%, at the low end of its forecast [8]. Stock Price Impact - Following the CFO's announcement on December 7, 2023, regarding a potential delay in a significant deal, Teradata's stock price fell by $2.89 per share, or 6.24%, from $46.29 to $43.40 [4]. - After the disappointing financial results announced on February 12, 2024, Teradata's stock price dropped by $10.57 per share, or 21.66%, from $48.79 to $38.22 [8]. Legal Proceedings - The lead plaintiff deadline for the class action lawsuit against Teradata is August 13, 2024, allowing investors who suffered losses to seek representation [1][9]. - The class action complaint is titled Ostrander v. Teradata Corporation, et al., and is filed in the United States District Court for the Southern District of California [9].