Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline in The Class
Action Lawsuit Against Avid Technology, Inc. -- AVID
LOS ANGELES, May 13, 2013 (GLOBE NEWSWIRE) -- The Law Offices of Todd M.
Garber announces that all purchasers of the securities of Avid Technology,
Inc. ("Avid" or the "Company") (Nasdaq:AVID) between April 22, 2011 and
February 22, 2013, inclusive (the "Class Period") have until May 24, 2013 to
file a motion with the Court to be appointed as lead plaintiff in the
shareholder lawsuit filed in the United States District Court for the District
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 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 purchased Avid shares prior to the Class Period and still hold those
shares 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. Those who inquire by email are encouraged
to include their mailing address, telephone number and number of shares
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
CONTACT: Todd M. Garber, Attorney at Law
Los Angeles, California
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