NEW YORK, July 6, 2024 (GLOBE NEWSWIRE) — Leading law firm Bleichmar Fonti & Auld LLP announces the upcoming August 13, 2024 deadline for the class action lawsuit against Teradata Corp. (NYSE: TDC).
If you have invested in Teradata, we recommend that you Send your information to https://www.bfalaw.com/cases/teradata-corp-investigation.
Why is Teradata being sued?
On June 16, 2024, Teradata was sued for violations of the federal securities laws. The lawsuit alleges that between February 13, 2023 and February 12, 2024, Teradata and certain of its officers made materially false and misleading statements regarding: (a) the success of the Company’s recently expanded business model of marketing products to customers outside of its IT departments; (b) the robustness of the Company’s pipeline and ability to close deals in a timely manner; and (c) the Company’s revenue growth prospects.
The lawsuit further alleges that Teradata’s expanded business model actually resulted in significant delays in closing large customer transactions. As a result, the company allegedly overstated the health of its pipeline and its revenue growth prospects.
Investors reportedly learned the truth on December 7, 2023, when Teradata announced that certain major deals might be delayed. On this news, Teradata’s stock price fell $2.89 per share, or 6%, to close at $43.40 per share on December 7, 2023. Then on February 12, 2024, Teradata announced that the company was unable to meet its previously published ARR guidance due to “deal timing issues.” On this news, Teradata’s stock price fell $10.57 per share, or 22%, to close at $38.22 per share on February 13, 2024.
BFA Law encourages investors who lost money on their Teradata investment to submit their information to learn about their rights.
Submit your information here: https://www.bfalaw.com/cases/teradata-corp-investigation.
What can you do?
If you have invested in Teradata Corp., you may be entitled to bring the case on behalf of the shareholders.
All representation is on a contingency basis. There are no costs for youShareholders will not be responsible for any court or litigation costs. The Company will seek court approval for any fees and costs.
To speak with an attorney and get more information, visit:
https://www.bfalaw.com/cases/teradata-corp-investigation
Or contact:
Ross Shikowitz
[email protected]
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in class actions and shareholder litigation. It was named a Top 5 Plaintiffs Firm for 2023 by ISS SCAS and its lawyers have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Recent notable successes include BFA recovering over $900 million in value from the board of Tesla, Inc. (subject to court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, visit https://www.bfalaw.com.
https://www.bfalaw.com/cases/teradata-corp-investigation
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