Avid® (Nasdaq - AVID) - Brodsky Smith

Avid® (Nasdaq – AVID)

SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Avid® (Nasdaq – AVID)

BALA CYNWYD – August 10, 2023 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Avid® (“Avid” or the “Company”) (Nasdaq – AVID) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to by an affiliate of STG in an all-cash transaction valuing Avid at approximately $1.4 billion, inclusive of Avid’s net debt. Under the terms of the agreement, Avid stockholders will receive $27.05 in cash for each share of Avid common stock.

The investigation concerns whether the Avid Board breached its fiduciary duties to shareholders by failing to conduct a fair process resulting in STG paying less than full value for the Company. For example, the deal consideration is less than the 52-week high of $33.41 for the Company’s shares.

If you own shares of Avid Holdings stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, by email at clients@brodsky-smith.com, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

Fill out this Single Case form

* Mr/Mrs/Ms (Select One)

* First Name:

* Last Name:

* Address:

* City:

* State:

* Zip Code:

* Country:

* Email Address:

* Phone Number:

*Number of Shares Owned:

*Date purchased:

* Are you currently an employee of the Company?:

By clicking on the submit button, I acknowledge that I have downloaded and read both the Merger Retainer Agreement and
Class Representative Rights and Responsibilities documents, and agree to retain Brodsky & Smith, LLC to represent them in the 1st United Bancorp, Inc shareholder matter. Brodsky & Smith, LLC will prosecute the action on a contingent fee basis and will advance all costs and expenses.