Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline In The Class
Action Lawsuit Against Avid Technology, Inc.
LOS ANGELES -- April 28, 2013
Glancy Binkow & Goldberg LLP announces that purchasers of the securities of
Avid Technology, Inc. (“Avid” or the “Company”) (NASDAQ:AVID) between April
22, 2011 and February 22, 2013 (the “Class Period”) have until May 24, 2013 to
file a motion with the Court to be appointed as lead plaintiff. The
shareholder lawsuit was filed in the United States District Court for the
District of Massachusetts.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW &
GOLDBERG LLP. PLEASE CONTACT US BY PHONE TO DISCUSS THIS ACTION OR TO OBTAIN A
COPY OF THE COMPLAINT AT (310) 201-9150, TOLL-FREE AT (888) 773-9224, OR BY
EMAIL AT SHAREHOLDERS@GLANCYLAW.COM.
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 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 Class described above, you have until May 24, 2013
to move the Court to serve as lead plaintiff; however, you must meet certain
legal requirements. To be a member of the Class you need not take action at
this time; you may retain counsel of your choice or take no action and remain
an absent Class member. To learn more about this action, or if you have any
questions concerning this Notice or your rights or interests with respect to
these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow &
Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California
90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail
to firstname.lastname@example.org, or visit our website at
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
(310) 201-9150 or (888) 773-9224
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