Do You Own Avid Stock? You May Have a Case Against the Company's Executives.
Schubert Jonckheer & Kolbe is actively investigating alleged misconduct by Avid Technology, Inc’s top executives, including claims that Avid’s officers and directors breached their fiduciary duties to the company.
The Schubert firm’s investigation concerns whether Avid’s officers and directors breached their fiduciary duties by misrepresenting or failing to disclose that: (a) the Company incorrectly accounted for its software updates by failing to treat those software updates as post-contract customer support under Generally Accepted Accounting Principles (“GAAP”); (2) the Company lacked adequate internal and financial controls; and (3) that, as a result, Avid’s publicly disseminated financial statements were materially false and misleading during the period from April 22, 2011 to February 22, 2013.
Avid shareholders may have the option to pursue a shareholder derivative action through which shareholders may hold insider wrongdoers accountable for their actions, prevent future misconduct, and bring long-term value back to the company.
If you are a current Avid shareholder and wish to obtain additional information about the investigation and your legal rights, complete the form at right.