close
close

TERADATA CORPORATION (NYSE: TDC) INVESTOR ALERT: Bernstein

NEW YORK, June 19, 2024 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP:

  • Do you own or have held stock in Teradata Corporation (NYSE: TDC)?
  • Did you purchase your shares between February 13, 2023 and February 12, 2024 inclusive?
  • Have you suffered losses on your investment in Teradata Corporation?
  • Would you like to discuss your rights?

Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired Teradata Corporation (“Teradata” or the “Company”) (NYSE: TDC) securities among November 3, 2021 and August 1, 2023inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of California alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its employees (the “Complaint”).

if you you have purchased or acquired Teradata securities and/or would like to discuss your rights and options visit the Teradata Corporation Shareholder Class Action Lawsuit or contact the Investor Relations Manager Peter Allocco at (212) 951-2030 or [email protected].

Teradata provides a connected multi-cloud data platform for enterprise analytics. To measure the Company’s progress in achieving its strategic goals, Teradata uses certain financial and performance metrics, including total annual recurring revenue (ARR), or the annual value at a given point in time, of all recurring contracts, including subscription, cloud, software upgrade rights and maintenance, and, included in Total ARR, Public Cloud ARR or the annual value at any given time of all contracts related to public cloud data platform implementations in the public cloud. Therefore, Teradata’s total APR for a given period is determined largely by the number of customer transactions that the Company is able to complete during that period.

The Plaintiff alleges that Defendants failed to disclose that: (i) under Teradata’s expanded business model, which included collaboration with additional customer business units and decision makers, transactions with the Company’s customers took longer to complete; (ii) Teradata overestimated its ability to close customer transactions within the intended time frames under its expanded business model; (iii) Teradata failed to timely complete several customer transactions that it included in its 2023 ARR growth forecasts; and (iv) as a result, the Company was unlikely to meet Total and Public Cloud ARR expectations for the full year 2023.

On December 7, 2023, defendant CFO Claire Bramley disclosed that the Company had entered into an eight-figure deal that could potentially be pushed back from the fourth quarter of 2023, which could put Teradata at or just below the low end of the range for the ARR cloud, which he previously provided. On this news, Teradata’s stock price fell $2.89 per share, or 6.24%, to close at $43.40 per share on December 7, 2023.

Teradata then announced its fourth quarter and full-year 2023 financial results on February 12, 2024. Among other things, the company stated that due to transaction timing issues, public cloud ARR only increased by 48% and total ARR only increased by 6%. for the full year 2023, which differs significantly from the Company’s previously published expectations for these performance indicators. On this news, Teradata’s stock price fell $10.57 per share, or 21.66%, to close at $38.22 per share on February 13, 2024.

If you wish to serve as lead plaintiff, you must move the Court no later than August 13, 2024. A lead plaintiff is a representative party who acts on behalf of other class members and directs the litigation. Your ability to share in any recovery does not require you to be a lead plaintiff. If you choose to take no action, you may remain an absent member of the class.

if you you have purchased or acquired Teradata securities and/or would like to discuss your rights and options visit the Teradata Shareholder Class Action Lawsuit or contact your Investor Relations Manager Peter Allocco at (212) 951-2030 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the firm works with the largest public and private pension funds in the country to monitor their assets and litigate on their behalf. As a result of our success in litigating hundreds of lawsuits and class actions, the firm has been named to The National Law Journal’s “Hot List of Plaintiffs” thirteen times and has been named to The Legal 500 list for sixteen consecutive years.

ADVERTISING ATTORNEYS. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Past results do not guarantee or predict a similar result with respect to any future matter.

Contact info:

Peter Allocco
Investor Relations Manager
Bernstein Liebhard limited liability company
https://www.bernlieb.com
(212) 951-2030
[email protected]