Law Offices of Howard G. Smith announces that it is investigating potential claims against Avid Technology, Inc. (“Avid” or the “Company”) (NASDAQ:AVID) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company between February 29, 2012 and February 25, 2013, regarding Avid’s business, operations and prospects were false and misleading.
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. Specifically, the investigation relates to Avid’s February 25, 2013 announcement that the Company will postpone the release of its fourth quarter 2012 earnings to provide additional time for the Company to evaluate its current and historical accounting treatment related to bug fixes, upgrades and enhancements to certain products which the Company had provided to certain customers. Avid further indicated that it currently could not estimate when it will complete its evaluation. On this news, shares of Avid declined $0.68 per share, or 8.88%, to close on February 25, 2013 at $6.98 per share, on heavy trading volume.
If you purchased Avid securities between February 29, 2012 and February 25, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
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