An investigation for investors in Avaya Holdings Corp. (NYSE:AVYA) shares over potential securities laws violations by Avaya Holdings Corp. was announced.
San Diego, CA -- (SBWIRE) -- 09/12/2022 -- Avaya Holdings Corp. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Avaya Holdings Corp. (NYSE: AVYA), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Avaya Holdings Corp. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Durham, NC based Avaya Holdings Corp., through its subsidiaries, provides digital communications products, solutions, and services for businesses worldwide. On August 9, 2022, Avaya Holdings Corp. released its preliminary third quarter 2022 financial results, reporting sales of $577 million, down 20% year-over-year in constant currency. Avaya Holdings Corp. provided no explanation for the earnings miss, but disclosed that there is "substantial doubt about the Company's ability to continue as a going concern." The Company also announced that its audit committee is investigating a whistleblower letter and its recent earnings report. As an article by The Wall Street Journal pointed out, Avaya Holdings Corp. missed earnings and cut its earnings forecast by 60% just weeks after borrowing $600 million from institutional investors in June.
Those who purchased shares of Avaya Holdings Corp. (NYSE: AVYA) have certain options and should contact the Shareholders Foundation.
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