AVID Shareholder Alert: Do You Own Stock in Avid Technology?
Schubert Jonckheer & Kolbe LLP Investigates Case Against the Company's Top Executives
SAN FRANCISCO, Sept. 10, 2014 /PRNewswire-USNewswire/ -- Schubert Jonckheer & Kolbe is actively investigating alleged misconduct by Avid Technology, Inc's (NASDAQ: AVID) 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 currently own Avid stock and wish to obtain additional information about the investigation and your legal rights, please contact Willem Jonckheer either via email at [email protected] or by telephone at (415) 788-4220, or fill out the form on our website at http://classactionlawyers.com/avid
About Schubert Jonckheer & Kolbe
Schubert Jonckheer & Kolbe has extensive experience in prosecuting securities claims, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact
Schubert Jonckheer & Kolbe LLP
Willem F. Jonckheer, Esq.
3 Embarcadero Center, Suite 1650
San Francisco, CA 94111
Tel: (415) 788-4220
http://www.schubertlawfirm.com
http://www.classactionlawyers.com
SOURCE Schubert Jonckheer & Kolbe LLP
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