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.
|YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT|
|SUBMIT A PROOF OF CLAIM AND RELEASE FORM||The only way to be eligible to receive a payment from the Settlement. Proof of Claim and Release forms must be postmarked or submitted online on or before April 19, 2018.|
|EXCLUDE YOURSELF||Get no payment. This is the only option that potentially allows you to ever be part of any other lawsuit against the Defendants or any other Released Persons about the legal claims being resolved by this Settlement. Exclusions must be received no later than April 9, 2018.|
|OBJECT||Write to the Court about why you disagree with the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees, costs, and expenses. You will still be a Class Member. Objections must be received by the Court and counsel on or before April 9, 2018.|
|GO TO THE HEARING ON APRIL 30, 2018||Ask to speak in Court about the fairness of the Settlement. Requests to speak must be received by the Court and counsel on or before April 9, 2018. Unless such requests are timely filed, you will not be heard at the Final Approval Hearing on April 30, 2018, absent leave of court.|
|DO NOTHING||Receive no payment. You will, however, still be a Class Member, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Persons about the legal claims being resolved by this Settlement, and you will be bound by any judgments or orders entered by the Court in the Action.|
Please consult the Notice for more details on your options.