| COMPANY |
Teradata Corporation |
| COURT |
United States District Court for the Southern District of California |
| CASE NUMBER |
24-cv-01034 |
| JUDGE |
The Hon. Judge Cynthia Bashant and Magistrate Judge Michael S. Berg |
| CLASS PERIOD |
February 13, 2023 through February 12, 2024 |
| SECURITY TYPE |
Securities |
Case Background:
This is a class action lawsuit on behalf of those who purchased or acquired Teradata Corporation (“Teradata”) (NYSE: TDC) securities between February 13, 2023 and February 12, 2024, both dates inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the company’s business, operations, and compliance policies. Specifically, Defendants made 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 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, the company’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On October 7, 2024, the Court entered an Order granting Motion to Appoint Lead Plaintiff and Approve Co-Lead Counsel. Lead Plaintiff filed an Amended Complaint on December 6, 2024. On February 4, 2025, Defendants filed a Motion to Dismiss the Amended Complaint and that Motion is currently being briefed by the parties. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.