According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:
- under Teradata’s expanded business model, which involved engagement with additional customer business units and decisionmakers, transactions with Teradata’s customers took longer to finalize;
- Teradata thus overstated its ability to close customer transactions within their intended timeframes under its expanded business model;
- Teradata failed to timely close several customer transactions that it had factored into its outlook for 2023 Total Annual Recurring Revenue (“ARR”) growth;
- as a result, Teradata was unlikely to meet its full year 2023 Total and Public Cloud ARR expectations; and
- as a result, Teradata’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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