An investor in NASDAQ:AVID shares filed a lawsuit over alleged violations of Federal Securities Laws by Avid Technology, Inc..
Investors who purchased shares of Avid Technology, Inc. (NASDAQ:AVID) have certain options and for certain investors are short and strict deadlines running. Deadline: January 20, 2017. NASDAQ:AVID investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that between August 4, 2016 and November 9, 2016 Avid Technology knew but failed to disclose that because it had not launched all the enterprise level features for its new NEXIS solution product offerings, its enterprise customers were deferring renewals and purchases.
Avid Technology, Inc. reported that its annual Total Revenue declined from $530.25 million in 2014 to $505.60 million in 2015 and that its Net Income decreased from $14.73 million in 2014 to $2.48 million in 2015. Shares of Avid Technology, Inc. (NASDAQ:AVID) $17.85 per share in June 2015 to as low as $5.38 per share in May 2016.
On November 9, 2016, Avid Technology, Inc. announced its third quarter 2016 results and updated its full-year 2016 guidance. Shares of Avid Technology, Inc. (NASDAQ:AVID) declined to as low as $4.24 per share on November 23, 2016.
Those who purchased NASDAQ:AVID shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
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