Law Offices of Todd M. Garber Announces Investigation of Avid Technology, Inc.
Law Offices of Todd M. Garber Announces Investigation of Avid Technology, Inc. Business Wire 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 Africa. 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 firstname.lastname@example.org. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Contact: Law Offices of Todd M. Garber Todd M. Garber, Attorney at Law Los Angeles, California 213-700-7262 email@example.com