NEW ORLEANS, July 26, 2024 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until August 13, 2024 to file lead plaintiff applications in a securities class action lawsuit against Teradata Corporation (the "Company") (NYSE: TDC), if they purchased or otherwise acquired the Company's shares between February 13, 2023 and February 12, 2024, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of California.
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About the Lawsuit
Teradata and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: i) under its expanded business model, which involved engagement with additional customer business units and decisionmakers, transactions with the Company's customers took longer to finalize; (ii) the Company thus overstated its ability to close customer transactions within their intended timeframes under its expanded business model; (iii) the Company failed to timely close several customer transactions that it had factored into its outlook for 2023 annual recurring revenue ("ARR") growth; (iv) as a result, the Company was unlikely to meet its full year 2023 Total and Public Cloud ARR expectations; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
The case is Ostrander v. Teradata Corporation, et al., No. 24-cv-01034.
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