THE LAWSUIT: A class action securities lawsuit was filed against Teradata Corporation (TDC) that seeks to recover losses of Teradata shareholders who were adversely affected by alleged securities fraud between February 13, 2023 and February 12, 2024
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CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: On February 12, 2024, Teradata announced 4Q 2023 results and then reduced its estimated growth for the full year 2024. The Company blamed it on a combination of “on-premises customer attrition and Cloud deal delays.” Analysts commenting on the reduced estimates mention concern with Teradata converting customers to its cloud offerings and hitting the Company’s target of over $1 billion in public cloud annual recurring revenue by the end of 2025.
Following this news, Teradata’s stock price fell by $10.57 per share, or approximately 22% to close at $38.22 per share.
WHAT’S NEXT? If you suffered a loss in Teradata stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/teradata-corporation-lawsuit-submission-form?wire=18 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
