Investor Alert: Rosen Law Firm Announces the Filing of Securities Fraud Class
Action Against Avid Technology -- AVID
NEW YORK, April 11, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today
announced that a class action lawsuit on behalf of investors who purchased the
securities of Avid Technology, Inc. (Nasdaq:AVID) during the period from April
22, 2011 to February 22, 2013 seeking to recover damages for violations of the
federal securities laws.
To join the AVID class action, visit the firm's website at
http://rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, toll-free, at
866-767-3653; you may also email firstname.lastname@example.org or email@example.com
for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY
CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint alleges that throughout the Class Period defendants made
misleading statements and failed to disclose material adverse facts about the
Company's business, operations and prospects. Specifically, defendants
misrepresented 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 certain of the Avid's
statements were materially false and misleading.
If you wish to serve as lead plaintiff, you must move the Court no later than
May 24, 2013.A lead plaintiff is a representative party acting on behalf of
other class members in directing the litigation.If you wish to join the
litigation, or to discuss your rights or interests regarding this class
action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at
866-767-3653, or via e-mail at firstname.lastname@example.org.You may also visit the
firm's website at http://rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
CONTACT: Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue, 34th Floor
New York, New York 10016
Tel: (212) 686-1060
Toll Free: 1-866--767-3653
Fax: (212) 202-3827
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