UPDATE
On October 31, 2019, pursuant to the Order of Distribution, payments were made to all Authorized Claimants whose claims were approved by the Court for payment subject to the requirements set forth in the Order. Authorized Claimants whose distribution amounts were less than the $10.00 threshold requirement did not receive a payment.
Overview
WELCOME TO THE AVID SECURITIES SETTLEMENT WEBSITE
Mohanty v. Avid Technology, Inc. et al., Case No.: 1:16-cv-12336-IT
The purpose of this website is to inform you of the pendency of this class action (the “Action”) between Lead Plaintiff and Defendants Avid, Louis Hernandez, Jr., and Ilan Sidi (the “Individual Defendants,” and collectively with Avid, the “Defendants”), the proposed One Million, Three Hundred and Twenty- Five Thousand United States Dollars ($1,325,000.00) cash settlement reached therein (the “Settlement”), and of the hearing to be held by the Court to consider the fairness, reasonableness, and adequacy of the Settlement, as well as Lead Plaintiff’s counsel’s application for fees, costs, and expenses, and Lead Plaintiff’s request for his time and expenses incurred in representing the Class. This website describes what steps you may take in relation to the Settlement and this Action.
This website is not an expression of any opinion by the Court concerning the merits of any claim in the Action, and the Court still has to decide whether to approve the Settlement. If the Court approves the Settlement and a plan of allocation, then payments to Authorized Claimants will be made after any appeals are resolved and after the completion of all claims processing. Please be patient, as this process can take some time to complete.
Please consult the Notice for more details on your options.