Teradata Corporation Class Action: Levi & Korsinsky Reminds Teradata Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of August 13, 2024 – TDC

Core Viewpoint - Teradata Corporation is facing a class action securities lawsuit due to allegations of false statements and misleading information regarding its business model and financial outlook for 2023 [2][5]. Group 1: Allegations and Impact - The lawsuit claims that Teradata's expanded business model led to longer transaction finalization times with customers, which was not disclosed [2]. - It is alleged that Teradata overstated its ability to close customer transactions within intended timeframes, impacting its 2023 Annual Recurring Revenue (ARR) growth outlook [2]. - The company reportedly failed to close several customer transactions that were factored into its ARR expectations, leading to doubts about meeting its full-year 2023 public cloud ARR goals [2]. Group 2: Class Definition and Participation - The lawsuit seeks to recover losses for Teradata investors who were adversely affected by the alleged securities fraud between February 13, 2023, and February 12, 2024 [5]. - Investors have until August 13, 2024, to request the Court to appoint them as lead plaintiffs, although participation in any recovery does not require serving as a lead plaintiff [6]. Group 3: Legal Representation - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [7]. - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [7].