Law Offices of Todd M. Garber Announces Investigation of Avid Technology,
LOS ANGELES -- March 16, 2013
The Law Offices of Todd M. Garber announces that it is investigating potential
claims on behalf of purchasers of the securities of Avid Technology, Inc.
(“Avid” or the “Company”) (NASDAQ:AVID) concerning possible violations of
federal securities laws. The investigation focuses on allegations that certain
statements issued by Avid between February 29, 2012 and February 25, 2013 were
false and misleading regarding the Company’s business, operations and
prospects. Avid provides digital media content-creation products and solutions
for audio, film, video, broadcast professionals, artists and creative
enthusiasts in the Americas, the Asia-Pacific, Europe, the Middle East and
The investigation is related to Avid’s February 25, 2013 announcement that the
Company will postpone the release of its fourth quarter 2012 earnings to
provide additional time for the Company to evaluate its current and historical
accounting treatment related to bug fixes, upgrades and enhancements to
certain products which the Company had provided to certain customers. Avid
further indicated that it currently could not estimate when it will complete
its evaluation. Following this news, the price of Avid shares declined $0.68
per share, or 8.88%, to close on February 25, 2013 at $6.98 per share, on
heavy trading volume.
If you purchased Avid securities between February 29, 2012 and February 25,
2013, if you have information or would like to learn more about these claims,
or if you wish to discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these matters, please
contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by
telephone at 213-700-7262 or by email to email@example.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
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