NEW YORK, April 3, 2013 (GLOBE NEWSWIRE) -- 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.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP