TDC Investors Have Opportunity to Lead Teradata Corporation Securities Fraud Lawsuit
LOS ANGELES, Aug. 6, 2024 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Teradata Corporation ("Teradata" or the "Company") (NYSE: TDC).
Class Period: February 13, 2023 – February 12, 2024
Lead Plaintiff Deadline: August 13, 2024
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) 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; (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 ARR growth; (4) as a result, the Company was unlikely to meet its full year 2023 Total and Public Cloud ARR expectations; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE The Law Offices of Frank R. Cruz, Los Angeles
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