Teradata Corporation (NYSE:TDC) Investor Investigation Over Potential Securities Laws Violations Announced

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Company Name(s): 
Teradata
Affected Securities: 
NYSE: TDC

August 16, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Teradata Corporation (NYSE:TDC) shares over potential securities laws violations by Teradata and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Teradata Corporation (NYSE:TDC) concerning whether a series of statements by Teradata regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Miamisburg, OH based Teradata Corporation is a provider of analytic data platforms, analytic applications and related services. Teradata Corporation reported that its annual Total Revenue declined from $2.53 billion in 2015 to $2.32 billion in 2016 and that its Net loss of $214 million turned into a Net Income of $125 million in 2016.

On August 4, 2017, Teradata Corporation disclosed that the Company had discovered "questionable expenditures for travel, gifts and other expenses" at a Teradata subsidiary conducting business in Turkey. Teradata advised investors that the Company "promptly initiated an internal investigation into the matter, with the assistance of outside counsel and forensic accountants, to determine whether the expenditures may have violated the U.S. Foreign Corrupt Practices Act ("FCPA") or other potentially applicable anti-corruption laws.
In late February 2017, the Company voluntarily contacted the SEC and the U.S. Department of Justice ("DOJ") to alert them to the relevant events and the Company's internal investigation."

Shares of Teradata Corporation (NYSE:TDC) closed on August 15, 2017 at $31.00 per share.