Teradata(US:TDC) Prnewswireยท2024-07-17 09:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Teradata Corporation regarding a class action lawsuit due to alleged misleading statements and failure to disclose critical information during the specified class period [1][2]. Group 1: Allegations - The complaint alleges that Teradata's expanded business model led to longer transaction finalization times with customers, which was not disclosed [2]. - It is claimed that Teradata overstated its ability to close customer transactions within intended timeframes, impacting its outlook for 2023 Annual Recurring Revenue (ARR) growth [2]. - The company reportedly failed to close several customer transactions that were factored into its ARR expectations for 2023, leading to a likelihood of not meeting its public cloud ARR goals [2]. Group 2: Class Action Details - The class period for the lawsuit is defined as February 13, 2023, to February 12, 2024, with a deadline for shareholders to register by August 13, 2024 [2][3]. - Shareholders who register will be enrolled in a portfolio monitoring system to receive updates on the case's progress [3]. - There is no cost or obligation for shareholders to participate in the class action [3]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud [4]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements that inflate stock prices [4].