Class Action Lawsuit Filed Against Teradata Corporation

– Kessler Topaz Meltzer & Check, LLP has announced the filing of a securities class action lawsuit against Teradata Corporation (NYSE: TDC). Investors who have experienced losses related to Teradata are encouraged to reach out to the firm for more information or to participate in the lawsuit. The firm is led by attorney Jonathan Naji, who can be contacted via phone or email. In its 2023 outlook, Teradata projected a significant increase in its Public Cloud Annual Recurring Revenue (ARR) by 53% to 57% year-over-year, alongside a total ARR growth of 6% to 8%. However, the company later reported that its public cloud ARR only increased by 48% for the full year, falling short of its earlier guidance. This discrepancy led to a notable decline in Teradata's stock price, which dropped by 6.24% following the announcement of these disappointing results. The CEO of Teradata attributed the underperformance to "deal timing issues," which the company had reportedly anticipated when issuing its guidance earlier in the year. This revelation raised concerns among investors, as it suggested a lack of transparency regarding the company's financial outlook. Investors have until August 13, 2024, to seek appointment as lead plaintiff representatives in the class action. Kessler Topaz Meltzer & Check, LLP emphasizes that participation as a lead plaintiff does not affect an investor's ability to share in any potential recovery from the lawsuit. The firm is known for prosecuting class actions in various courts across the country and internationally.