Teradata(US:TDC) GlobeNewswire News Roomยท2024-08-13 13:22Core Viewpoint - A securities class action lawsuit has been filed against Teradata Corporation for alleged violations of federal securities laws, including misleading statements about its business and financial performance, leading to significant investor losses [1]. Group 1: Allegations and Financial Performance - Teradata's fourth quarter and full year 2022 results indicated an expected increase in public cloud Annual Recurring Revenue (ARR) of 53% to 57% year-over-year, and total ARR growth of 6% to 8% year-over-year [3]. - On December 7, 2023, Teradata's CFO disclosed potential delays in a significant deal, which could result in the company falling to the low end of its previously provided cloud ARR guidance, causing a stock price drop of $2.89 per share, or 6.24% [4]. - The fourth quarter and full year 2023 results revealed that public cloud ARR increased by only 48%, and total ARR increased by just 6%, both falling short of earlier guidance, leading to a stock price decline of $10.57 per share, or 21.66% [5]. Group 2: Legal Proceedings - Investors affected by Teradata's alleged misconduct can seek to be appointed as lead plaintiffs in the class action lawsuit, with a deadline of August 13, 2024 [6]. - The class action complaint, titled Ostrander v. Teradata Corporation, is filed in the United States District Court for the Southern District of California [6].