TERADATA CORPORATION (NYSE: TDC) DEADLINE ALERT: Bernstein

NEW YORK, July 29, 2024 (GLOBE NEWSWIRE) – Bernstein Liebhard LLP:

• Do you own or have you owned shares of Teradata Corporation (NYSE: TDC)?
• Did you purchase your shares between February 13, 2023 and February 12, 2024 (inclusive)?
• Did you lose money on your investment in Teradata Corporation?
• Would you like to talk about your rights?

Bernstein Liebhard LLP, a nationally recognized investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a class action lawsuit on behalf of investors who purchased securities of Teradata Corporation (“Teradata” or the “Company”) (NYSE: TDC) between 13 February 2023 and 12 February 2024inclusive (the “Claim Period”). The lawsuit was filed in the U.S. District Court for the Southern District of California and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

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

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

Teradata provides a connected, multi-cloud data platform for enterprise analytics. To measure the company’s progress toward its strategic objectives, Teradata uses certain financial and performance metrics, including total annual recurring revenue (ARR), or the annual point-in-time value of all recurring contracts, including subscription, cloud, software upgrade rights and maintenance, and, included in total ARR, public cloud ARR, or the annual point-in-time value of all contracts related to public cloud implementations of its cloud data platform. Thus, Teradata’s total ARR for a given period is determined in significant part by the number of customer transactions the company is able to complete during that period.

Plaintiff alleges that defendants failed to disclose that: (i) Teradata’s expanded business model, which involved working with additional customer business units and decision makers, took longer to complete transactions with the company’s customers; (ii) Teradata overstated its ability to complete customer transactions within the anticipated timelines under its expanded business model; (iii) Teradata failed to complete several customer transactions on a timely basis that it had included in its 2023 ARR growth forecast; and (iv) as a result, the company is unlikely to meet its expectations for total ARR and public cloud ARR for the full year 2023.

On December 7, 2023, Chief Financial Officer and defendant Claire Bramley announced that the company had closed an eight-figure deal that could potentially be pushed out of the fourth quarter of 2023, which could result in Teradata being at the low end of, or just below, its previously stated range for cloud ARR. 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.

Then, on February 12, 2024, Teradata announced its fourth quarter and full-year 2023 financial results. Among other things, the company stated that due to transaction timing issues, public cloud ARR for the full year 2023 only grew 48% and total ARR only grew 6%, falling far short of the expectations previously expressed by the company for these performance metrics. Following this news, Teradata’s stock price fell $10.57 per share, or 21.66%, closing at $38.22 per share on February 13, 2024.

If you Have purchased or acquired Teradata securities and/or would like to discuss your legal rights and options Please visit the Teradata Shareholders’ Class Action Lawsuit or contact the 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 has been retained by some of the nation’s largest public and private pension funds to oversee their assets and litigate on their behalf. Because of its success in litigating hundreds of lawsuits and class action cases, the firm has been named to the National Law Journal’s “Plaintiffs’ Hot List” thirteen times and has been listed in The Legal 500 for sixteen consecutive years.

ATTORNEY ADVERTISING. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertising 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 outcome with respect to future matters.

Contact information:

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