Glancy Binkow & Goldberg Announces a May 24, 2013 Deadline to Seek a Lead
Plaintiff Position in the Class Action Lawsuit Against Avid Technology, Inc.
LOS ANGELES, May 20, 2013 (GLOBE NEWSWIRE) -- Glancy Binkow & Goldberg LLP
announces that all purchasers of the securities 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 to be appointed
as lead plaintiff in the shareholder lawsuit filed in the United States
District Court for the District of Massachusetts. Investors who have losses of
$100,000 or more are encouraged to contact the firm for information concerning
a lead plaintiff position.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW &
GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, AT (212) 682-5340
OR AT SHAREHOLDERS@GLANCYLAW.COM. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR
MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
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 may move the Court to
serve as lead plaintiff no later than May 24, 2013; however, you must meet
certain legal requirements.
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, Toll-Free at
(888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg
LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212)
682-5340, 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.
CONTACT: Glancy Binkow & Goldberg LLP, Los Angeles, CA
Glancy Binkow & Goldberg LLP, New York, NY
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