NEW YORK, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Avaya Holdings Corp. (“Avaya” or the “Company”) for violations of the federal securities laws on behalf of investors.
On January 3, 2023, a complaint was filed against Avaya, and certain of its top executives, alleging that throughout the Class Period (November 22, 2021 to November 29, 2022), Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”). The Complaint alleges that Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company's business operations and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s internal control over financial reporting (“ICFR”) was deficient in several areas; (ii) as a result of these deficiencies, the Company had failed to design and maintain effective controls over its whistleblower policies and its ethics and compliance program; (iii) the Company's deteriorating financial condition was likely to raise substantial doubt as to its ability to continue as a going concern; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
When investors learned the truth, Avaya’s common stock declined precipitously, injuring investors.
If you suffered a loss in Avaya’s securities and wish to participate or learn more, click here, or please contact our attorneys at (914) 733-7234 or via email at firstname.lastname@example.org.
Any investor who wishes to serve as Lead Plaintiff must act before March 3, 2023.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
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SOURCE: Lowey Dannenberg P.C.