ATLANTA, June 17, 2024 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against officers of Teradata Corporation (“Teradata” or the “Company”) (NYSE: TDC). The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information, regarding the Company’s business, operations, and compliance policies, including allegations that: (i) under Teradata’s expanded business model, which involved engagement with additional customer business units and decisionmakers, transactions with the Company’s customers took longer to finalize; (ii) Teradata thus overstated its ability to close customer transactions within their intended timeframes under its expanded business model; (iii) Teradata failed to timely close several customer transactions that it had factored into its outlook for 2023 annual recurring revenue (“ARR”) growth; and (iv) as a result, the Company was unlikely to meet its full year 2023 Total and Public Cloud ARR expectations.
If you bought shares of Teradata between February 13, 2023 and February 12, 2024, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at www.holzerlaw.com/case/teradata/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is August 13, 2024.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021 and 2022, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com
