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TDC STOCK NEWS: BFA Law Alerts Teradata Corp. (NYSE:TDC) Shareholders of Upcoming Deadline in Securities Fraud Case and Notifies Those that Suffered Losses to Contact the Firm
Globe Newswire 20-Jul-2024 6:09 AM
NEW YORK, July 20, 2024 (GLOBE NEWSWIRE) -- Top law firm Bleichmar Fonti & Auld LLP announces the upcoming August 13, 2024 deadline in the Teradata Corp. (NYSE:TDC) securities class action lawsuit.
On June 16, 2024, Teradata was sued for violations of the federal securities laws. The complaint alleges that between February 13, 2023 and February 12, 2024, Teradata and certain of its senior executives made materially false and misleading statements related to: (a) the success of the company's recently expanded business model to market products to customers beyond their IT units; (b) the robustness of the company's pipeline and ability to timely close deals; and (c) the company's revenue growth prospects. The complaint further alleges that, in reality, Teradata's expanded business model caused significant delays in the closing of large customer transactions. As a result, it is alleged that the company overstated the health of its pipeline and revenue growth prospects.
Investors allegedly began to learn the truth on December 7, 2023, when Teradata revealed that certain large deals could be delayed. On this news, the price of Teradata stock declined by $2.89 per share, or 6%, to close at $43.40 per share on December 7, 2023. Then, on February 12, 2024, Teradata announced that "deal timing issues" caused the company to miss its previously issued ARR guidance. On this news, the price of Teradata stock declined by $10.57 per share, or 22%, to close at $38.22 per share on February 13, 2024.
BFA Law encourages investors who lost money on their Teradata investment to submit your information to find out about your rights.
If you invested in Teradata Corp. you may be eligible to lead the case on behalf of shareholders.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The Firm will seek court approval for any potential fees and expenses.
To speak with an attorney for more information visit:
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
