BOSTON, Feb. 28, 2013 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, is investigating possible securities law violations involving Avid Technology, Inc. ("Avid" or the "Company") (NASDAQ: AVID) following Avid's recent 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. Avid further indicated it cannot currently estimate when it will complete its evaluation.
Avid's announcement on February 25, 2013 resulted in its share price trading down as much as 12% since the market closed on February 22, 2013 – the last trading day prior to the disclosure. Based on the information to date, it appears that the Company's wrongdoing spanned from January 15, 2011 to February 22, 2013.
Block & Leviton's investigation seeks to determine, among other things, whether Avid and its officers and directors have violated the federal securities laws. If you have any information relevant to this investigation, or have questions about your legal rights, please contact Philip J. Marino of Block & Leviton LLP at (617) 398-5600 or email him at Philip@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.
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SOURCE Block & Leviton LLP