Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Avid Technology, Inc.
Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Avid Technology, Inc. Business Wire 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 “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 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 firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com. Contact: Law Offices of Howard G. Smith Howard G. Smith, Esquire (215) 638-4847 (888) 638-4847 email@example.com www.howardsmithlaw.com