NEW YORK, March 21, 2013 /PRNewswire/ --
Avid Technology, Inc.
Lifshitz Law Firm announces that it is investigating potential claims against the board of directors of Avid Technology, Inc. (the "Company") (AVID) concerning whether the board has breached its fiduciary duties to shareholders. On February 25, 2013, the Company announced that it is postponing its fourth quarter 2012 earnings release and investor conference call, previously scheduled for Tuesday, February 26, 2013 to provide additional time for the Company to evaluate its current and historical accounting treatment related to bug fixes, upgrades and enhancements to certain products which the Company has provided to certain customers.
Great Lakes Dredge & Dock Corporation
Lifshitz Law Firm announces that it is investigating potential claims against the board of directors of Great Lakes Dredge & Dock Corporation ("Great Lakes" or the "Company") (GLDD) concerning whether the board has breached its fiduciary duties to shareholders. On March 14, 2013, the Company disclosed that its financial statements for the second and third quarters of 2012 could no longer be relied on. Certain orders were included as revenue even though client acceptance had not been finalized. The Company also announced that the Company's President, COO, and former CFO would be leaving Great Lakes.
Harvest Natural Resources, Inc.
Lifshitz Law Firm announces that it is investigating potential claims against the board of directors of Harvest Natural Resources, Inc. (the "Company") (HNR) concerning whether the board has breached its fiduciary duties to shareholders. On March 19, 2013, the Company disclosed that certain errors were identified that will require the Company to revise and possibly restate its financial statements for certain periods in 2010, 2011 and 2012. The Company further stated that it has determined that a material weakness existed in its controls over the accuracy and presentation of its accounting for certain long-lived assets.
Obagi Medical Products, Inc.
Lifshitz Law Firm announces an investigation into possible breaches of fiduciary duty in connection with the proposed sale of Obagi Medical Products, Inc. (NasdaqGS: OMPI) ("Obagi") to Valeant Pharmaceuticals International, Inc. Under the terms of the agreement, Valeant will commence a tender offer for all of the outstanding common stock of Obagi for $19.75 per share in cash.
For more information about our investigation, please contact Joshua M. Lifshitz, Esq. by telephone at (212) 213-6222 Ext. 18 or by sending an e-mail including your contact information to: firstname.lastname@example.org.
Lifshitz Law Firm is a New York based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit our website at www.jlclasslaw.com.
ATTORNEY ADVERTISING. © 2013 Lifshitz Law Firm. The law firm responsible for this advertisement is Lifshitz Law Firm, 18 East 41st Street, New York, New York 10017, (212) 213-6222. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Joshua M. Lifshitz, Esq.
Lifshitz Law Firm
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