Avid Technology, Inc. Sued by Investor

                    Avid Technology, Inc. Sued by Investor

PR Newswire

SAN DIEGO and BURLINGTON, Mass., March 29, 2013

SAN DIEGO andBURLINGTON, Mass., March 29, 2013 /PRNewswire/ --Shareholder
rights attorneys at Robbins Arroyo LLP announce that a purchaser of Avid
Technology, Inc. (NASDAQ: AVID) securities has filed a complaint in the U.S.
District Court for the District of Massachusetts. The complaint charges the
company and certain of its officers and directors with violating the
Securities Exchange Act of 1934 between April 22, 2011 and February 22, 2013
(the "Class Period"). 

(Logo: http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

Avid Officials Accused of Making False and Misleading Statements Concerning
the Company's Accounting for Post-Contract Customer Support

The complaint alleges that Avid, a technology company that provides digital
media content-creation products and solutions for audio, film, video, and
broadcast professionals, and certain of its officers and directors issued a
series of materially false and misleading statements to investors regarding
the company's business and operations. Specifically, the complaint alleges
that throughout the Class Period, company officials failed to apply the
correct accounting principles to the treatment of bug fixes, upgrades, and
enhancements provided byAvid to certain of its customers. As a result, Avid
failed to account for these software update services as post-contract customer
support under U.S. Generally Accepted Accounting Principles, potentially
impacting the timing of its revenue recognition.

Avid Stock Price Drops Following Its Postponement of Its Fourth Quarter
Earnings Release: Concerned Shareholders Respond with Lawsuit

On February 25, 2013, Avid issued a press release announcing the postponement
of its fourth quarter 2012 earnings release in order to evaluate its current
and historical accounting treatment related to software updates. In response
to this news, Avid shares declined approximately 9%, closing at $6.98 per
share on February 25, 2013. 

Following the class period, after the market closed on March 21, 2013, Avid
announced receipt of a notification letter from NASDAQ warning of possible
delisting of the company's stock from the exchange for continued failure to
file its 2012 annual report. Further, the company indicated that it was
unable to estimate the significance of the adjustments on prior periods. In
response to this news, Avid shares declined an additional 3.81%, to close at
$6.56 per share on March 22, 2013.

If you purchased or otherwise acquired Avid stock during the Class Period and
wish to serve as lead plaintiff, you must act no later than May 24, 2013. To
discuss your shareholder rights, please contact attorney Darnell R. Donahue at
(800) 350-6003, ddonahue@robbinsarroyo.com, or via the shareholder information
form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. For more information, please
go to http://www.robbinsarroyo.com.

Press release link:
http://www.robbinsarroyo.com/shareholders-rights-blog/avid-technology-inc/

Attorney Advertising.Past results do not guarantee a similar outcome.

Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free at (800) 350-6003
http://www.robbinsarroyo.com

SOURCE Robbins Arroyo LLP

Website: http://robbinsumeda.com
 
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