San Diego, CA -- (SBWIRE) -- 11/29/2016 -- An investor, who purchased shares of Avid Technology, Inc. (NASDAQ:AVID), filed a lawsuit in Massachusetts over alleged violations of Securities Laws by Avid Technology, Inc. in connection with certain allegedly false and misleading statements.
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 firstname.lastname@example.org or call 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.
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.
On November 28, 2016, NASDAQ:AVID closed at $4.29 per share.
Those who purchased shares of Avid Technology, Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego