Newman Ferrara LLP Announces Investigation of Avid Technology, Inc.

[Pirate Post]

http://www.reuters.com/article/2013/...12+BSW20130226

[The Byre]

Perhaps, it would be a good idea, instead of telling moderators to ban those making accusations of impropriety, but otherwise not making any statements or announcements, that Avid provided some information of exactly what is going on.

To that end, could an officer of the company issue some sort of statement, telling users, customers and investors what the hell is going on inside the company.

Avid is supposed to be a public company and is therefore legally obliged to provide the public with information. In recent years, the behaviour of management at Avid has been, well, weird and getting progressively weirder.

Avid didn't need a second Steve Jobs. A first year business student could have done a better job. The company had a gross profit margin of 55%, yet by pumping up costs to absurd levels (e.g. 42 prestige offices around the World) it has managed to always make a year-on-year loss!

[dave911]

Just the legal parasites looking to make a buck.
You'll likely see more than one firm filing.
Money out of the company and to the lawyers.
The shareholders seldom get any meaningful payout even if there is wrongdoing.

[whitecat]

There already is a second firm on it...

It's still a massive headache though no matter what the motive, and may cause more problems than it solves.

[sunburst79]

Originally Posted by dave911

Just the legal parasites looking to make a buck.
You'll likely see more than one firm filing.
Money out of the company and to the lawyers.
The shareholders seldom get any meaningful payout even if there is wrongdoing.

After some googling that's was pretty much my opinion. Fishing expedition migh be a more accurate description. Or "We are filing a suit in the interest of the stock holders" (that haven't contacted us yet). Since the first of the yar they have filed at least two suits blocking major acquisitions. These things always depend on which side of the fence your on but some call them nuisance suits. Well see.

I would like to point out that is almost standard operating procedure to review the books any time there's a major management change. And this may end up somewhere between a big deal to the new guy simply wanting to recalculate the last couple quarters. Again only time will tell. Knowing misstating earnings carries all sorts of penalties and as far as I know they are legally obligated to conduct a review before posting. Rather than speculating any further I'm just going to see what actually happens.

[sorcerer27]

http://www.pro-tools-expert.com/home...announced.html

[Bill Denton]

Originally Posted by The Byre

Perhaps, it would be a good idea, instead of telling moderators to ban those making accusations of impropriety, but otherwise not making any statements or announcements, that Avid provided some information of exactly what is going on.

To that end, could an officer of the company issue some sort of statement, telling users, customers and investors what the hell is going on inside the company.

Avid is supposed to be a public company and is therefore legally obliged to provide the public with information. In recent years, the behaviour of management at Avid has been, well, weird and getting progressively weirder.

Avid didn't need a second Steve Jobs. A first year business student could have done a better job. The company had a gross profit margin of 55%, yet by pumping up costs to absurd levels (e.g. 42 prestige offices around the World) it has managed to always make a year-on-year loss!

Avid is supposed to be a public company and is therefore legally obliged to provide the public with information.

I'll assume you aren't familiar with US laws, but the number of entities a public company is legally obligated to provide information to is quite small, and the general public is not one of them...

[John_Toolbox]

+1 While AVID is indeed a "publically traded" company, they are actually obligated NOT to talk to the public about many more things because of that.

[Benoni]

Avid Responds To Delay Concerns

http://www.prosoundnetwork.com/artic...concerns/16035

[Pirate Post]

Originally Posted by Benoni

Avid Responds To Delay Concerns

http://www.prosoundnetwork.com/artic...concerns/16035

Nice of Avid to respond...Now back to mixing