San Francisco, California--(Newsfile Corp. - January 13, 2023) - Hagens Berman urges Avaya Holdings Corp.
investors who suffered significant losses to submit your losses now.
Class Period: Nov. 22, 2021 - Nov. 29, 2022
Lead Plaintiff Deadline: Mar. 6, 2023
Visit: https://www.hbsslaw.com/investor-fraud/AVYA
Contact An Attorney Now: [email protected]
844-916-0895
Avaya Holdings Corp. (AVYA) Securities Fraud Class Action:
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The litigation focuses on Avaya's repeated assurances that it has had effective internal controls over financial reporting ("ICFRs") and that it has made significant progress in its business model transformation to a cloud and SaaS business model.
According to the complaint, Defendants made misleading statements and failed to disclose that: (1) Avaya's ICFRs were deficient in several areas; (2) as a result of the deficiencies, the company failed to design and maintain effective controls over whistleblower policies and its ethics and compliance programs; and (3) the company's deteriorating financial condition was likely to raise substantial doubt about its ability to continue as a going concern.
Avaya's assurances came into serious question, beginning on July 28, 2022, when the company announced its board fired CEO James M. Chirico, Jr., revealed...
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