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TERADATA INVESTOR DEADLINE NOTICE: Teradata Corp. (NYSE:TDC) Shareholders that Suffered Losses on Investment are Urged to Contact BFA Law about Court Deadline
TeradataTeradata(US:TDC) GlobeNewswire News Roomยท2024-07-16 10:09

Core Viewpoint - Teradata Corp. is facing a securities class action lawsuit for allegedly making false and misleading statements regarding its business model, pipeline, and revenue growth prospects between February 13, 2023, and February 12, 2024 [9] Group 1: Allegations and Impact - The lawsuit claims that Teradata's expanded business model, aimed at marketing products beyond IT units, led to significant delays in closing large customer transactions [9] - It is alleged that Teradata overstated the health of its pipeline and revenue growth prospects, which misled investors [9] - Following the revelation of potential delays in large deals on December 7, 2023, Teradata's stock price fell by $2.89 per share, or 6%, closing at $43.40 [11] - On February 12, 2024, the company announced "deal timing issues" that caused it to miss its annual recurring revenue (ARR) guidance, resulting in a stock price decline of $10.57 per share, or 22%, closing at $38.22 [11] Group 2: Legal Representation - Bleichmar Fonti & Auld LLP, a prominent law firm specializing in securities class actions, is representing the plaintiffs in this case [6] - The firm has a strong track record, having recovered over $900 million from Tesla's Board of Directors and $420 million from Teva Pharmaceutical Industries [6]