Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The
Class Action Lawsuit Against Avid Technology, Inc.
BENSALEM, Pa. -- April 19, 2013
Law Offices of Howard G. Smith announces that investors of Avid Technology,
Inc. (“Avid” or the “Company”) (NASDAQ:AVID) have until May 24, 2013 to move
the Court to serve as lead plaintiff in the securities fraud class action
lawsuit filed in the United States District Court for the District of
Massachusetts on behalf of a class (the “Class”) comprising all purchasers of
Avid securities between April 22, 2011 and February 22, 2013, inclusive (the
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 throughout the Class Period defendants made false and/or
misleading statements or 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 under U.S. Generally Accepted Accounting
Principles (“GAAP”), by failing to properly treat the Software Updates as
post-contract customer support; (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 Class described above, you have certain rights and
have until May 24, 2013 to move for lead plaintiff status. To be a member of
the class you need not take any action at this time, or may retain counsel of
your choice. If you wish to discuss this action or learn more concerning your
rights or interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite
112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to email@example.com, or visit our
website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
Press spacebar to pause and continue. Press esc to stop.