NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces to investors that a shareholder filed a class action on behalf of all purchasers of securities of Teradata Corporation (NYSE: TDC) between February 13, 2023 and February 12, 2024. Teradata Corporation describes itself as a company that “provides a connected multicloud data platform for enterprise analytics.”
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Teradata Corporation (NYSE: TDC) Misled Investors Regarding its Business Operations.
According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) under Teradata’s expanded business model, which involved engagement with additional customer business units and decisionmakers, transactions with Teradata’s customers took longer to finalize; (2) Teradata thus overstated its ability to close customer transactions within their intended timeframes under its expanded business model; (3) Teradata failed to timely close several customer transactions that it had factored into its outlook for 2023 Total Annual Recurring Revenue (“ARR”) growth; (4) as a result, Teradata was unlikely to meet its full year 2023 Total and Public Cloud ARR expectations; and (5) as a result, Teradata’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Teradata Corporation. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by August 13, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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