Avid Replaces Chief Accounting Officer
Avid said that Karl Johnsen, the company’s chief accounting officer & controller has left the company and has been replaced on an interim basis by John Frederick, Avid’s EVP, CFO & Chief...
View ArticleNew Avid Bonus Plan Contemplates “Reorganization Event”
Avid recently established a new employee bonus plan, whereby payments will be triggered upon the earlier of: . (i) filing by the Company of its Annual Report on Form 10-K with respect to the...
View ArticleBankruptcy Court Approves Kit Digital Restructuring, Company to Rebrand as...
After more than a year of rumor, speculation, management changes, and shareholder lawsuits, it appears that the Kit Digital roller coaster ride is finally coming to an end – with a successful outcome...
View ArticleAvid Delays Filing of Q2 2013 Financial Results and Form 10-Q
Avid said that due to an ongoing internal audit of past treatment of software upgrades, it “is not able to complete and cannot file its quarterly report on Form 10-Q for the quarter ended June 30, 2013...
View ArticleAvid Unlikely to Regain Compliance with NASDAQ Listing Requirements by March...
Avid Technology said it is unlikely that the company will be able to regain compliance with its SEC filing requirements for continued listing of its common stock on the NASDAQ Stock Market by the March...
View ArticleNew Avid Rights Agreement Will Cause “Substantial Dilution” to Potential...
Avid Technology said it has entered into a Rites Agreement with Computershare Trust Company acting as Rights Agent. In connection with this, Avid will distribute a dividend of one Right for each...
View ArticleAvid to be Delisted from NASDAQ on February 25, 2014
Avid said in a regulatory filing that, as expected, the company has received a notification letter from NASDAQ indicating that the NASDAQ Listing Qualifications Hearings Panel has determined to delist...
View ArticleAvid Nears Completion of Accounting Audit, Says Normal Financial Reporting...
Avid, which since February 2013 has been conducting an internal investigation into its current and historical accounting treatment related to software updates, said in a regulatory filing that in...
View ArticleAvid Releases First Financial Results in Nearly Two Years, Revenue Down 11.4...
Avid released financial results for the first time in nearly two years, following a protracted audit of it historic accounting treatment of software upgrades, dating back to 2009, which were made...
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