SHAREHOLDER ALERT: Levi & Korsinsky Notifies Investors with Losses on Their
Investment in Avid Technology, Inc. of Class Action Lawsuit and the Deadline
of May 24, 2013 to Seek a Lead Plaintiff Position
NEW YORK -- May 14, 2013
Levi & Korsinsky announces that a class action lawsuit has been commenced in
the United States District Court for the District of Massachusetts on behalf
of investors who acquired Avid Technology, Inc. (“Avid” or “the Company”)
(Nasdaq: AVID) stock between April 22, 2011 and February 22, 2013.
For more information, click here: http://zlk.9nl.com/avid-technology/.
The Complaint alleges that throughout the Class Period defendants made false
and/or misleading statements or failed to disclose materially adverse facts
about the Company’s business, operations and prospects. Specifically,
defendants misrepresented or failed to disclose that: (a) 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; (b) the Company lacked adequate internal and
financial controls; and (c) as a result of the foregoing, the Company’s
statements were materially false and misleading at all relevant times.
If you suffered a loss in Avid you have until May 24, 2013 to request that
the Court appoint you as lead plaintiff. Your ability to share in any recovery
doesn’t require that you serve as a lead plaintiff. To obtain additional
information, contact Joseph E. Levi, Esq. either via email at email@example.com or
by telephone at (877) 363-5972, or visit http://zlk.9nl.com/avid-technology/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey and
Washington D.C. The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. Attorney advertising. Prior
results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Toll Free: 877-363-5972
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