Teradata(US:TDC) Prnewswireยท2024-07-20 00:15Core Viewpoint - A securities class action lawsuit has been filed against Teradata Corporation for alleged violations of federal securities laws, including fraudulent misrepresentations and omissions regarding its business and financial outlook, leading to significant investor losses [1]. Financial Performance and Guidance - On February 13, 2023, Teradata projected 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]. - The company's CFO indicated on December 7, 2023, that a significant deal might be delayed, potentially affecting the ARR guidance, which led to a 6.24% drop in stock price [4]. - On February 12, 2024, Teradata reported a 48% increase in public cloud ARR for 2023, which was below the initial guidance, and total ARR increased by only 6%, at the low end of expectations [5]. Stock Price Impact - Following the announcement of disappointing financial results on February 12, 2024, Teradata's stock price fell by $10.57 per share, or 21.66%, from $48.79 to $38.22 [5]. Legal Proceedings - The lead plaintiff deadline for the class action lawsuit is set for August 13, 2024, allowing affected investors to seek representation [1][10].