Bernstein Liebhard LLP Announces That Approximately Five Weeks Remain To File A Motion For Lead Plaintiff In A Class Action That

Bernstein Liebhard LLP Announces That Approximately Five Weeks Remain To File
A Motion For Lead Plaintiff In A Class Action That Has Been Filed Against Avid
                               Technology, Inc.

PR Newswire

NEW YORK, April 17, 2013

NEW YORK, April 17, 2013 /PRNewswire/ --Bernstein Liebhard LLP today
announced that approximately five weeks remain – until May 24, 2013 – to file
a motion for lead plaintiff in a class action that was recently commenced in
the United States District Court for the District of Massachusetts on behalf
of a class (the "Class") of purchasers of Avid Technology, Inc. ("Avid" or the
"Company") (NASDAQ: AVID) securities between April 22, 2011 and February 22,
2013 (the "Class Period").

(Logo: http://photos.prnewswire.com/prnh/20120202/MM47134LOGO)

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 allegedly 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.

On February 25, 2013, the Company disclosed that it was postponing the release
of its financial results for the fourth quarter of 2012, stating that it would
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.

After the Class Period, 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.

Plaintiffs seek to recover damages on behalf of all Class members who invested
in Avid securities during the Class Period. If you invested in Avid
securities as described above during the Class Period, and either lost money
on the transaction or still hold the security, you may wish to join in this
action to serve as lead plaintiff. In order to do so, you must meet certain
requirements set forth in the applicable law and file appropriate papers no
later than May 24, 2013.

A "lead plaintiff" is a representative party that acts on behalf of other
class members in directing the litigation. In order to be appointed lead
plaintiff, the court must determine that the class member's claim is typical
of the claims of other class members, and that the class member will
adequately represent the class. Under certain circumstances, one or more
class members may together serve as lead plaintiff. Your ability to share in
any recovery is not, however, affected by the decision whether or not to serve
as a lead plaintiff. You may retain Bernstein Liebhard LLP, or other counsel
of your choice, to serve as your counsel in this action.

If you are interested in discussing your rights as an Avid shareholder and/or
have information relating to the matter, please contact Joseph R. Seidman, Jr.
at (877) 779-1414 or seidman@bernlieb.com.

Bernstein Liebhard LLP has pursued hundreds of securities, consumer and
shareholder rights cases and recovered over $3 billion for its clients. It
has been named to The National Law Journal's "Plaintiffs' Hot List" in each of
the last ten years.

You can obtain a copy of the complaint from the clerk of the court for the
United States District Court for the District of Massachusetts.

Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com

ATTORNEY ADVERTISING. © 2013 Bernstein Liebhard LLP. The law firm responsible
for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New
York, New York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of Connecticut is Michael S. Bigin. Prior results
do not guarantee or predict a similar outcome with respect to any future
matter.

Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com

SOURCE Bernstein Liebhard LLP

Website: http://www.bernlieb.com/