Bronstein, Gewirtz & Grossman, LLC once again has some heavy lifting to do. The body is at the moment carrying out investigations on behalf of Avid Technology, Inc. (NASDAQ:AVID) and according to some inside sources, the company intends to get to the bottom of the matter as soon as possible.
As a matter of fact, it is going to need any necessary support it can get. That is why it has called upon all the company’s investors to assist it with any relevant information that could possibly assist it with investigations. By visiting the firm’s site; it will be very easy to provide the required information which will serve the general good of all investors. The body added to say that offering assistance to such investors was it main priority and no one should shy away in seeking out its help at any given time.
The new incidence befalls these investors in a wake where a lot of companies are disappointing their investors. A number of officers and directors have lately been conniving to violate some important sections of securities exchange acts. This is the same incidence that occurred at Avid Technology, Inc after some top officials and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 15, 2017, the company’s board agreed upon postponing a conference call that was supposed to review fourth quarter financial results. Avid Technology, Inc banks its hopes on the fact that the delay in one way or the other will help it buy a little time to allow its independent auditor to conduct “routine procedures associated with the financial audits carried out in 2016.
The impact of the latest news have been felt by the company in a great way, there is no denying it! The dropping of the Avid stock from $0.91 per share to close at $4.44 is not something that anyone could dismiss anyhow! It impact in shaking the company is intense and there is need to do something about the matter as the investors rage in utmost anger over the recent incidence.