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 http://www.glancylaw.com.
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