Teradata(US:TDC) Prnewswireยท2024-08-10 17:45Core 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]. - Teradata's CFO indicated on December 7, 2023, that a significant deal might be delayed, potentially affecting the company's ARR performance, which led to a 6.24% drop in stock price [4]. - The actual results announced on February 12, 2024, showed public cloud ARR increased by only 48% and total ARR increased by 6%, both falling short of prior guidance, resulting in a 21.66% decline in stock price [5]. Legal Action and Investor Information - Investors affected by Teradata's alleged misconduct can seek to be appointed as lead plaintiffs by August 13, 2024, through Kessler Topaz Meltzer & Check, LLP [6]. - The class action complaint is filed in the United States District Court for the Southern District of California under the case name Ostrander v. Teradata Corporation, et al. [6].