NEW YORK, Nov. 23, 2016 /PRNewswire-USNewswire/
-- Attorney Advertising -- Bronstein, Gewirtz & Grossman,
LLC notifies investors that a class action lawsuit has been filed
against Avid Technology, Inc. ("Avid" or the "Company") (NASDAQ:
AVID) and certain of its officers, and is on behalf of shareholders
who purchased or otherwise acquired Avid securities between
August 4, 2016 and November 9, 2016, both dates inclusive (the
"Class Period"). Such investors are advised to join this case
by visiting the firm's site: http://www.bgandg.com/avid.
This class action seeks to recover damages against Defendants
for alleged violations of the federal securities laws under the
Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint alleges that throughout the Class Period,
Defendants made materially false and misleading statements and/or
failed to disclose that because it did not launch all the
enterprise level features for its new NEXIS solution product
offerings, its enterprise clients were suspending renewals and
purchases.
On November 9, 2016 Avid revealed
that its third quarter 2016 bookings and revenues were much lower
than how it was forecasted and told to investors. Avid said, "the
transition of the storage product line" and divulging 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."
A class action lawsuit has already been filed. If you wish to
review a copy of the Complaint you can visit the firm's site:
www.bgandg.com/avid or you may contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss
in Ligand 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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