SAN DIEGO, June 22, 2024 (GLOBE NEWSWIRE) – Robbins Geller Rudman & Dowd LLP announces that purchasers or transferees of securities of Teradata Corporation (NYSE: TDC) between February 13, 2023 and February 12, 2024, both dates inclusive (the “Class Period”), have until August 13, 2024 to seek appointment as lead plaintiff in the Teradata Class action lawsuit. Labeled Ostrander v. Teradata CorporationNo. 24-cv-01034 (SD Cal.), the Teradata A class action lawsuit accuses Teradata and some of the company’s top executives of violating the Securities Exchange Act of 1934.
If you have suffered significant losses and wish to serve as lead plaintiff, Teradata Class action lawsuit, please enter your information here:
https://www.rgrdlaw.com/cases-teradata-corporation-class-action-lawsuit-tdc.html
You can also contact lawyers JC Sanchez or Jennifer N. Caringal of Robbins Geller at 800/449-4900 or by email at [email protected]. Lead plaintiff motions for the Teradata Class action lawsuit must be filed with the court no later than August 13, 2024.
Allegations in the case: Teradata provides a connected multi-cloud data platform for enterprise analytics.
The Teradata The Class Action Lawsuit alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Teradata’s expanded business model, which involved working with additional customer business units and decision makers, took longer to complete transactions with Teradata’s customers; (ii) Teradata thus overstated its ability to complete customer transactions within the anticipated timeframe under its expanded business model; (iii) Teradata failed to timely complete several customer transactions that it had included in its 2023 Annual Recurring Revenue (“ARR”) growth forecast; and (iv) Teradata is therefore likely to fail to meet its expectations for total ARR and public cloud ARR for the full year 2023.
The Teradata The class action lawsuit further alleges that on December 7, 2023, Teradata’s CFO, defendant Claire Bramley, revealed that Teradata had “closed an eight-figure deal that could potentially… be pushed out of Q4 2023,” which could result in “Teradata landing at the low end of, or slightly below, the range for cloud ARR that (Teradata) has previously stated.” Following this news, Teradata’s stock price fell more than 6%, according to the lawsuit.
Then, on February 12, 2024, Teradata The class action lawsuit further alleges that Teradata stated that due to “deal timing issues,” public cloud ARR would only increase by 48% and total ARR for all of 2023 would only increase by 6%, well below Teradata’s previously stated expectations for these performance metrics. According to the lawsuit, Teradata’s stock price fell nearly 22% on the news.
The lead plaintiff proceedings: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased or acquired Teradata securities during the Class Period to seek appointment as lead plaintiff in the Teradata class action. A lead plaintiff is generally the plaintiff with the greatest financial interest in the relief sought by the putative class, which is also typical and appropriate for the putative class. A lead plaintiff acts on behalf of all other class members in directing the Teradata Class action lawsuit. The lead plaintiff may select a law firm of his choice to conduct the litigation Teradata Class action lawsuit. An investor’s ability to share in any potential future compensation does not depend on whether he serves as lead plaintiff in the Teradata class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action law firms representing plaintiffs in securities fraud cases. The firm ranked first in the ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third consecutive year that Robbins Geller has topped the list. And in those three years alone, Robbins Geller has recovered nearly $5.3 billion for investors, more than twice as much as any other plaintiffs’ law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ law firms in the world, and the firm’s lawyers have litigated many of the largest class actions in history, including the largest class action in history – $7.2 billion – in In re Enron Corp. Sec. Litigation. For more information, see the following page:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
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Contact:
Robbins Geller Rudman & Dowd LLP
JC Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
[email protected]
