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TDC.US
id: 1259

Teradata Corporation (TDC) Delayed Deal and Revenue Shortfall Case

S.D. California
Court
3:24-cv-01034
Case number
13 Feb 2023
Class period Start
12 Feb 2024
Class period End
15 Aug 2024
Lead Plaintiff motion deadline
  • $TDC stockholder filed a claim vs. Teradata for hiding significant delays and challenges in closing customer transactions.
  • On February 13, 2024, after the financial results, $TDC fell 21.66%.
  • Teradata investors can join this case to be notified about potential recovery.
Case details:

In February 2023, Teradata projected significant revenue growth, including a 53% to 57% increase in income from their cloud-based services for 2023.

Management highlighted that this growth would "demonstrate the success of their strategic transformation and strengthen their market position."

However, on December 7, 2023, Teradata faced major setbacks. The company revealed that a major deal could face delays, impacting their Q4 2023 revenue expectations.

On February 12, 2024, following the announcement of these disappointing results, $TDC dropped by 21%.

Based on these events, $TDC stockholder filed a claim against Teradata and its leaders, accusing them of the following:
  • Teradata's business model, involving more customer units and decision-makers, led to longer transaction times.
  • The company overestimated its ability to close deals quickly under this new model.
  • Due to delayed transactions, Teradata was unlikely to meet its 2023 revenue growth targets.
Considering all the representations, investors have reasons to suspect that Teradata hid the significant delays and challenges in closing customer transactions.
Case Status
Motion to dismiss denied
Alleged Offence
Misleading Statements
Financial Misrepresentation
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
07 December 2023
Filing date
14 June 2024
Lead Plaintiff Deadline
15 August 2024
Judge
Cynthia Bashant
Collecting participants…

Teradata Corp

Teradata Corporation, together with its subsidiaries, provides a connected multi-cloud data platform for enterprise analytics. The company offers Teradata Vantage, an open and connected platform de...

    Ticker
    TDC.US
    ISIN
    US88076W1036
    CIK
    816761
    Sector
    Technology
    Industry
    Software - Infrastructure
    Country
    USA
    Address
    17095 Via Del Campo, San Diego, CA, United States, 92127