NEW ORLEANS, July 19, 2024 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 13, 2024 to file lead plaintiff applications in a securities class action lawsuit against Teradata Corporation (the “Company”) (NYSE: TDC), if they purchased or otherwise acquired the Company’s shares between February 13, 2023 and February 12, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of California.
What You May Do
If you purchased shares of Teradata and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-tdc/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 13, 2024.
About the Lawsuit
Teradata and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: i) under its expanded business model, which involved engagement with additional customer business units and decisionmakers, transactions with the Company’s customers took longer to finalize; (ii) the Company thus overstated its ability to close customer transactions within their intended timeframes under its expanded business model; (iii) the Company failed to timely close several customer transactions that it had factored into its outlook for 2023 annual recurring revenue (“ARR”) growth; (iv) as a result, the Company was unlikely to meet its full year 2023 Total and Public Cloud ARR expectations; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
The case is Ostrander v. Teradata Corporation, et al., No. 24-cv-01034.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC
