TDC - TERADATA ALERT: Bragar Eagel & Squire P.C. Announces that a Class Action Lawsuit Has Been Filed Against Teradata Corporation and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, June 14, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Teradata Corporation ("Teradata" or the "Company") (NYSE:TDC) in the United States District Court Southern District of California on behalf of all persons and entities who purchased or otherwise acquired Teradata securities between February 13, 2023 and February 12, 2024, both dates inclusive (the "Class Period"). Investors have until August 13, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Click here to participate in the action.
Teradata, together with its subsidiaries, provides a connected multi-cloud data platform for enterprise analytics. Historically, Teradata primarily dealt with the information technology departments of its customers. However, as the Company expanded its business model and strategic objectives, it increasingly began to engage with additional customer business units.
To measure the Company's progress in achieving its strategic objectives, Teradata utilizes certain financial and performance metrics including Total Annual Recurring Revenue ("ARR")—or the annual value at a point in time of all recurring contracts, including subscription, cloud, software upgrade rights, and maintenance—and, included within Total ARR, Public Cloud ARR—or the annual value at a point in time of all contracts related to public cloud implementations of its cloud data platform. Accordingly, Teradata's Total ARR for a certain time period is determined, in significant part, by the number of customer transactions the Company is able close in that period.
On February 13, 2023, Teradata issued a press release reporting its Q4 and full year 2022 financial results. In providing an outlook for ...