LOS ANGELES, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Avaya Holdings Corp. (“Avaya” or the “Company”) (NYSE: AVYA) investors that a class action has been filed on behalf of investors.
Abbott investors with losses on their investment are encouraged to contact Lesley Portnoy, Esq.
Please contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On July 28, 2022, Avaya announced the termination of its Chief Executive Officer. The Company also announced that preliminary financial results for its third quarter 2022 fell below previously given guidance and withdrew its fiscal 2022 guidance.
On this news, Avaya’s stock price fell $1.19, or 57%, to close at $0.90 per share on July 29, 2022, thereby injuring investors.
Then on August 9, 2022, Avaya disclosed that there was “substantial doubt about the Company’s ability to continue as a going concern.” The Company also announced that its audit committee was investigating a whistleblower letter as well as the circumstances surrounding its recent earnings report. Avaya also stated that it would not timely file its financial statements for the quarter ended June 30, 2022.
On this news, Avaya’s stock price fell $0.51, or 45.5%, to close at $0.61 per share on...
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