INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Avid Technology, Inc. of a Class Action Lawsuit & a Lead Plain...
January 10 2017 - 10:56AM
Business Wire
The following statement is being issued by Levi & Korsinsky,
LLP:
To: All persons or entities who purchased or otherwise
acquired securities of Avid Technology, Inc. (NASDAQ: AVID)
between August 4, 2016 and November 9,
2016. You are hereby notified that a securities
class action lawsuit has been commenced in the USDC for the
District of Massachusetts. To get more information go
to:
http://www.zlk.com/pslra/avid-technology
or contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972. There is no cost or obligation to you.
The complaint alleges that during the Class Period, Avid knew
but failed to disclose that because it had not launched all the
enterprise level features for its new NEXIS solution product
offerings, its enterprise customers were deferring renewals and
purchases.
On November 9, 2016, after the close of trading, Avid disclosed
that both its third quarter 2016 bookings and revenues had come in
considerably lower than the Company had led the investment
community to expect, citing “the transition of the storage product
line” and disclosing that “some existing enterprise clients
deferred normal upgrade and renewal decisions and new customers
postponed investments until the release of functionality targeted
to the enterprise market.”
If you suffered a loss in Avid you have until January 20, 2017 to request that the Court
appoint you as lead plaintiff. Your ability to share in any
recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, California, Connecticut, and Washington D.C. The
firm’s attorneys have extensive expertise and experience
representing investors in securities litigation, and have recovered
hundreds of millions of dollars for aggrieved shareholders.
Attorney advertising. Prior results do not guarantee similar
outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20170110005976/en/
Levi & Korsinsky, LLPJoseph E. Levi, Esq.Tel:
212-363-7500Toll Free: 877-363-5972Fax: 212-363-7171www.zlk.com
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