Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Avid Technology, Inc.
Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Avid Technology, Inc. Business Wire LOS ANGELES -- April 12, 2013 The Law Offices of Todd M. Garber announces that shareholders of Avid Technology, Inc. (“Avid” or the “Company”) (NASDAQ:AVID) have until May 24, 2013 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the District of Massachusetts. The lawsuit was filed on behalf of a class (the “Class”) comprising all purchasers of Avid securities between April 22, 2011 and February 22, 2013, inclusive (the “Class Period”). 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 Complaint alleges that the defendants made false and/or misleading statements or failed to disclose material adverse facts about the Company's business, operations and prospects. Specifically, throughout the Class Period 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 Company's statements were materially false and misleading at all relevant times. If you are a member of the above-described Class, you may move the Court no later than May 24, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time. You may retain counsel of your choice or take no action and remain an absent Class member. If you wish to discuss this action or have any questions concerning this Notice 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