SAN DIEGO, June 27, 2024 (GLOBE NEWSWIRE) — Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of individuals and entities who purchased or otherwise acquired securities of Teradata Corporation (NYSE: TDC) between February 13, 2023 and February 12, 2024. Teradata provides a connected, multi-cloud data platform for enterprise analytics.
For more information, submit a form, email Attorney Aaron Dumas, Jr., or call us at (800) 350-6003.
The accusations: Robbins LLP is investigating allegations that Teradata Corporation (TDC) misled investors about its business prospects
According to the complaint, during the Class Period, defendants failed to disclose that: (i) as part of Teradata’s expanded business model, which involved working with additional customer business units and decision makers, it took longer to complete transactions with the company’s customers; (ii) Teradata thus overstated its ability to complete customer transactions within the timeframes provided for under its expanded business model; (iii) Teradata failed to complete several customer transactions in a timely manner that it had included in its forecast for ARR growth through 2023; and (iv) as a result, the company likely failed to meet its expectations for full-year 2023 total and public cloud ARR. When the truth came out, Teradata’s stock price fell $10.57 per share, or 21.66%, closing at $38.22 per share on February 13, 2024.
What now: You may be eligible to participate in the class action lawsuit against Teradata Corporation. Shareholders who wish to serve as lead plaintiff for the class action must file their motions with the Court by August 13, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for compensation. If you choose not to take action, you may remain an absent class member. For more information, click here Here.
Representation is on a contingency basis. Shareholders pay neither fees nor expenses.
About Robbins LLP: Some law firms issuing press releases on this matter do not litigate securities class actions; Robbins LLP does. As a recognized leader in shareholder litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures and hold corporate executives accountable for wrongdoing since 2002. Since our founding, we have recovered more than $1 billion for shareholders.
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