TDC - Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Teradata Corporation (TDC) | Benzinga

NEW YORK, June 17, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of all persons and entities who purchased securities of Teradata Corporation ("Teradata" or the "Company") (NYSE:TDC) between February 13, 2023 and February 12, 2024, inclusive (the "Class Period").

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) Teradata thus overstated its ability to close customer transactions within their intended timeframes under its expanded business model; (iii) Teradata failed to timely close several customer transactions that it had factored into its outlook for 2023 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 ...

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