NEW YORK, March 1, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Avid Technology, Inc. ("Avid" or the "Company") (NasdaqGS: AVID).
The investigation focuses on Avid's February 25, 2013 announcement that it has postponed its fourth quarter 2012 earnings release and investor conference call to provide additional time for the Company to evaluate its current and historical accounting. Moreover, Avid stated that it is unable to estimate when it will be able to complete its accounting evaluation. Avid's unexpected announcement resulted in a fall in the Company's share price, from a close of $7.66 on February 22, 2013 to a close of $6.98 on February 25, 2013, a drop of roughly 8.8%.
Request more information now by clicking here: www.faruqilaw.com/AVID. There is no cost or obligation to you.
If you invested in Avid stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/AVID. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Avid's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP