SHAREHOLDER ALERT: Pomerantz Law Firm Has Filed a Class Action Against Avid Technology, Inc. and Certain Officers -- AVID

SHAREHOLDER ALERT: Pomerantz Law Firm Has Filed a Class Action Against Avid
Technology, Inc. and Certain Officers -- AVID

NEW YORK, March 25, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford
Dahlstrom & Gross LLP has filed a class action lawsuit against Avid
Technology, Inc. ("Avid" or the "Company")(Nasdaq:AVID) and certain of its
officers. The class action filed in United States District Court, District Of
Massachusetts, and docketed under 1:13-cv-10686, is on behalf of a class
consisting of all persons or entities who purchased or otherwise acquired
securities of Avid between April 22, 2011 and February 22, 2013, both dates
inclusive (the "Class Period"). This class action seeks to recover damages
against the Company and certain of its officers and directors as a result of
alleged violations of the federal securities laws pursuant to Sections 10(b)
and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated
thereunder.

If you are a shareholder who purchased Avid Technology securities during the
Class Period, you have until May 24, 2013 to ask the Court to appoint you as
Lead Plaintiff for the class. A copy of the Complaint can be obtained at
www.pomerantzlaw.com.  To discuss this action, contact Robert S. Willoughby
at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, x237.
Those who inquire by e-mail are encouraged to include their mailing address,
telephone number, and number of shares purchased.

Avid develops, markets, sells, and supports a variety of software and systems
for creating and manipulating digital media content.The Company develops and
sells digital editing systems and newsroom computer systems, as well as
digital audio systems.Avid's products are used worldwide in production and
post-production film, video, and television facilities.

The Complaint alleges that throughout the Class Period, Defendants made false
and/or misleading statements, as well as failed to disclose material adverse
facts about the Company's business, operations, and prospects.Specifically,
Defendants made false and/or misleading statements and/or failed to disclose
that: (1) the Company incorrectly accounted for its Software Updates by
failing to properly treat the Software Updates as post-contract customer
support under U.S. Generally Accepted Accounting Principles; (2) the Company
lacked adequate internal and financial controls; and (3) as a result of the
foregoing, the Company's statements were materially false and misleading at
all relevant times.As a result of Defendants' wrongful acts and omissions,
and the precipitous decline in the market value of the Company's securities,
Plaintiff and other Class members have suffered significant losses and
damages.

On February 25, 2013, the Company disclosed that it was postponing the release
of its financial results for the fourth quarter of 2012 as it will need
additional time "to evaluate its current and historical accounting treatment
related to bug fixes, upgrades and enhancements to certain products which the
Company has provided to certain customers."On these revelations, Avid shares
declined $0.68 per share or nearly 9%, to close at $6.98 per share on February
25, 2013.

On March 21, 2013, the Company announced that it had received a notification
letter from NASDAQ as it was no longer in compliance due to the delay in
filing its annual report. On this news, Avid shares declined an additional
$0.26 per share or 3.81%, to close at $6.56 per share on March 22, 2013.

The Pomerantz Firm, with offices in New York, Chicago, and San Diego, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the Pomerantz Firm
pioneered the field of securities class actions. Today, more than 70 years
later, the Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of fiduciary duty,
and corporate misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT: Robert S. Willoughby
         Pomerantz Grossman Hufford Dahlstrom & Gross LLP
         rswilloughby@pomlaw.com
 
Press spacebar to pause and continue. Press esc to stop.