Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $1.325 Million Settlement in the Avid Technology Inc (NASDAQ:AVID) Investor Lawsuit

Via: ReleaseWire

Updated 11:15 AM CDT, Fri, April 06,2018

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Avid Technology Inc (NASDAQ: AVID) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on April 19, 2018 and NASDAQ: AVID investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 04/06/2018 -- A deadline is coming up on April 19, 2018 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Avid Technology Inc (NASDAQ: AVID) between August 4, 2016 and November 9, 2016.

Investors who purchased a significant amount of shares of Avid Technology Inc (NASDAQ: AVID) between August 4, 2016 and November 9, 2016, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Avid Technology Inc (NASDAQ: AVID) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/avid-technology-inc-nasdaq-avid-investor-securities-class-action-lawsuit-11212016

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is April 19, 2018. The class action administrator for this case is Garden City Group.

The lawsuit was originally filed in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by Avid Technology Inc in connection with certain allegedly false and misleading statements made between August 4, 2016 and November 9, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Avid Technology Inc (NASDAQ: AVID) common shares between August 4, 2016 and November 9, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 4, 2016 and November 9, 2016 Avid Technology Inc 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.

Those who purchased shares of Avid Technology Inc (NASDAQ: AVID) 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

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-1325-million-settlement-in-the-avid-technology-inc-nasdaqavid-investor-lawsuit-959896.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com