NEW YORK, May 10, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. reminds investors of the important May 24, 2013 lead plaintiff deadline in the class action lawsuit on behalf purchasers of the securities of Avid Technology, Inc. (AVID), during the period between April 22, 2011 and February 22, 2013 (the "Class Period") seeking to recover damages for violations of the federal securities laws.
To join the AVID class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint alleges that throughout the Class Period defendants made false and/or misleading statements or failed to disclose material adverse facts about the Company's business, operations and prospects. Specifically, defendants misrepresented or failed to disclose that: (1) the Company incorrectly accounted for its Software Updates by failing to properly treat the Software Updates as post-contract customer support under U.S. Generally Accepted Accounting Principles; (2) the Company lacked adequate internal and financial controls; and (3) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.
If you wish to serve as lead plaintiff, you must move the Court no later than May 24, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com. You may also visit the firm's website at http://rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue, 34th Floor
New York, New York 10016
Tel: (212) 686-1060
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
www.rosenlegal.com
