Key Developments: Avid Technology Inc (AVID.OQ)

AVID.OQ on NASDAQ Stock Exchange Global Select Market

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26 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Levi & Korsinsky Notifies Investors With Losses On Their Investment In Avid Technology Inc Of Class Action Lawsuit
Tuesday, 14 May 2013 01:00pm EDT 

Levi & Korsinsky announced 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) stock between April 22, 2011 and February 22, 2013.  Full Article

Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Avid Technology Inc
Thursday, 2 May 2013 06:30pm EDT 

Ryan & Maniskas, LLP announced that a class action has been filed in the United States District Court for the District of Massachusetts on behalf of purchasers of Avid Technology Inc between April 22, 2011 and February 22, 2013.  Full Article

Faruqi & Faruqi, LLP Announces Investigation Of Potential Securities Fraud At Avid Technology Inc
Monday, 29 Apr 2013 08:15pm EDT 

Faruqi & Faruqi, LLP announced that it is investigating potential securities fraud at Avid Technology Inc. The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that; Avid incorrectly accounted for its Software Updates by failing to properly treat them as post-contract customer support under the Generally Accepted Accounting Principles (GAAP); and Avid lacked adequate internal and financial controls.  Full Article

Cohen Milstein Sellers & Toll PLLC Continues To Investigate Avid Technology Inc
Monday, 29 Apr 2013 11:30am EDT 

Cohen Milstein Sellers & Toll PLLC announced that it is conducting an investigation to determine whether Avid Technology, Inc. (Avid or the Company) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. A class action lawsuit was filed in the U.S. District Court for the District of Massachusetts by another law firm on behalf of purchasers of the common stock of Avid between April 22, 2011 and February 22, 2013, inclusive (the Class Period). The complaint alleges that Avid and certain of its officers and directors (Defendants) misrepresented and/or failed to disclose that: (1) Avid incorrectly accounted for its Software Updates by failing to properly treat them as post-contract customer support under GAAP; (2) Avid lacked adequate internal and financial controls; and (3) as a result of the foregoing, Avid`s statements were materially false and misleading at all relevant times. On February 11, 2013, Avid announced that defendant Gary G. Greenfield had "voluntarily resigned" his posts as Chairman, CEO and President but would continue to serve as a director of the Company. The Company gave no explanation for Greenfield`s abrupt resignation.  Full Article

Avid Technology Inc Announces New Chief Financial Officer
Monday, 22 Apr 2013 09:10am EDT 

Avid Technology Inc announced that John Frederick will become Avid`s Executive Vice President, Chief Financial Officer and Chief Administrative Officer, effective immediately. Ken Sexton will transition from his role as Executive Vice President, Chief Financial Officer and Chief Administrative Officer to become a consultant with the Company.  Full Article

Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline The Class Action Lawsuit Against Avid Technology Inc
Friday, 19 Apr 2013 09:30pm EDT 

Law Offices of Howard G. Smith announced that investors of Avid Technology, Inc. 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). 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 the Company incorrectly accounted for Software Updates under U.S. Generally Accepted Accounting Principles (GAAP), by failing to properly treat the Software Updates as post-contract customer support; the Company lacked adequate internal and financial controls; and as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.  Full Article

Gainey McKenna & Egleston Announces Securities Fraud Class Action Lawsuit Against Avid Technology Inc
Friday, 19 Apr 2013 07:30pm EDT 

Gainey McKenna & Egleston announced that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities who purchased the common stock of Avid Technology, Inc. between April 22, 2011 to February 22, 2013, seeking remedies under the federal securities laws. The Complaint alleges that throughout the Class Period Defendants issued false and misleading statements and failed to disclose material adverse facts about the Company's business, operations and prospects. Specifically, Defendants failed to disclose that the Company incorrectly accounted for software updates by failing to properly treat the software updates as post-contract customer support under U.S. Generally Accepted Accounting Principles; the Company lacked adequate internal and financial controls; and as a result of the foregoing, certain Company statements were materially false and misleading.  Full Article

Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline In Class Action Lawsuit Against Avid Technology Inc
Sunday, 14 Apr 2013 08:48pm EDT 

The Law Offices of Todd M. Garber announced that shareholders of Avid Technology Inc have until May 24, 2013 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the District of Massachusetts. The lawsuit was filed 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). The Complaint alleges that the defendants made false and/or misleading statements or failed to disclose material adverse facts about the Company's business, operations and prospects. Specifically, throughout the Class Period 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.  Full Article

Cohen Milstein Sellers & Toll PLLC Announces Investigation of Avid Technology Inc
Friday, 12 Apr 2013 05:34pm EDT 

Cohen Milstein Sellers & Toll PLLC announced that it is conducting an investigation to determine whether Avid Technology Inc (Avid or the Company) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. A class action lawsuit was filed in the U.S. District Court for the District of Massachusetts by another law firm on behalf of purchasers of the common stock of Avid between April 22, 2011 and February 22, 2013, inclusive (the Class Period). The complaint alleges that Avid and certain of its officers and directors (Defendants) misrepresented and/or failed to disclose that: Avid incorrectly accounted for its Software Updates by failing to properly treat them as post-contract customer support under GAAP; Avid lacked adequate internal and financial controls; and as a result of the foregoing, Avid`s statements were materially false and misleading at all relevant times. On February 11, 2013, Avid announced that defendant Gary G. Greenfield had voluntarily resigned his posts as Chairman, CEO and President but would continue to serve as a director of the Company. The Company gave no explanation for Greenfield`s abrupt resignation.  Full Article

Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Avid Technology Inc
Friday, 5 Apr 2013 09:05pm EDT 

The Law Offices of Todd M. Garber announced that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of a class (the Class) comprising all purchasers of the securities of Avid Technology Inc 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 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.  Full Article

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