Press release
Investigation announced for Investors in shares ofAvaya Holdings Corp. (NYSE: AVYA) over potential Wrongdoing
An investigation on behalf of investors in Avaya Holdings Corp. (NYSE: AVYA) shares over potential wrongdoing at Avaya Holdings.
Investors who purchased shares of Avaya Holdings Corp. (NYSE: AVYA) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Avaya Holdings directors breached their fiduciary duties and caused damage to the company and its shareholders.
Durham, NC based Avaya Holdings Corp., through its subsidiaries, provides digital communications products, solutions, and services for businesses worldwide. On August 9, 2022, Avaya Holdings Corp. released its preliminary third quarter 2022 financial results, reporting sales of $577 million, down 20% year-over-year in constant currency. Avaya Holdings Corp. provided no explanation for the earnings miss, but 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. As an article by The Wall Street Journal pointed out, Avaya Holdings Corp. missed earnings and cut its earnings forecast by 60% just weeks after borrowing $600 million from institutional investors in June.
Those who purchased shares of Avaya Holdings Corp. (NYSE: AVYA) have certain options and should contact the Shareholders Foundation.
Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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