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AVYA.US
id: 546, Created by Stan Vick Chase, Scout
Join Avaya Mismanagement Case and return your losses
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
On January 12, 2023, Bloomberg reported that Avaya Holdings Corp. has held talks with lenders over a plan that could hand them control of the company as part of a bankruptcy filing.
- Earlier on December 16, 2022, the Wall Street Journal reported that Avaya “is nearing a chapter 11 bankruptcy filing,” citing people familiar with the matter. On this news, Avaya’s stock price plunged 54%.
- On August 9, 2022, the Company released disappointing preliminary Q3 2022 results and disclosed that there is “substantial doubt about the Company’s ability to continue as a going concern.” The Company also announced that its audit committee is investigating a whistleblower letter and its recent earnings report. On this news, Avaya’s stock fell 45.5%.
- On June 28, 2022, Avaya announced certain Preliminary Q3 2022 fiscal financial results according to which it significantly cut revenue and EBITDA projections. The company also informed about finalizing testing of its goodwill and intangible assets which is expected to result in significant non-cash impairment charges as of June 30, 2022. Furthermore, Avaya informed that prior financial guidance should no longer be relied upon. Following this news, the stock plunged by 48%, seriously damaging investors. This dramatic change of financial representation happened just 1 month after Avaya announced $600 million in aggregate financing commitments.
Taking into account all the facts and financial motivation, there is a reasonable suspicion that the rights of shareholders and lenders have been significantly violated.
Alleged Offence
Mismanagement,
Misleading Statements,
Financial Misrepresentation,
Fraud,
Failure to Disclose,
Price manipulation,
Insider Trading,
Malpractice,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management,
Shareholder,
Influencer,
Investment Bank,
Service Provider,
Research Entity,
Hedge Fund
Security Type
Stocks
Trade Direction
Long
Shock Event Date
29 November 2022
Case number
23-CV-01258
Filing date
03 January 2023
Class period Start
03 October 2019
Class period End
29 November 2022
Lead Plaintiff Deadline
06 March 2023
Court
Southern District of New York
Judge
Hon. Catherine C. Eagles
Collecting participants…
Case history
Stan Vick
10 May 2023
Status: Waiting for Lead Plaintiff Appointment
Case №: 23-CV-01258
Court: Southern District of New York
Judge: Hon. Catherine C. Eagles
Description: The case is in the court of the Southern District of New York. Eight Lead Plaintiff applications have been submitted to the court. The next milestone is the judge appoints Lead Plaintiff who will represent the Class.