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Friday, December 2, 2022

Avaya Investor Alert

Last updated Sunday, November 20, 2022 12:19 ET

Vancouver Canada · V6E 4A6, Canada, 11/20/2022 / SubmitMyPR /

Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Avaya To Contact Him Directly To Discuss Their Options

New York, New York--(Newsfile Corp. - November 20, 2022) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Avaya Holdings Corp. ("Avaya" or the "Company") (NYSE: AVYA).

If you suffered losses exceeding $50,000 investing in Avaya stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/AVYA.

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There is no cost or obligation to you.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.

On June 27, 2022, Avaya announced $600 million in aggregate financing commitments, including $350 million of new Senior Secured Term Loans and $250 million of Exchangeable Senior Secured Notes. Management claimed "[t]his funding supports and accelerates our business model transformation."

A month later, on July 28, 2022, Avaya announced its board fired CEO James M. Chirico, Jr. The company also announced disastrous preliminary Q3 2022 financial results that included expected revenues and adjusted EBITDA well below previously given guidance and an unquantified but "significant" impairment charge. In addition, the company withdrew its 2022 guidance. This news sent the price of Avaya shares crashing 57% lower the next day.

Then, on Aug. 9, 2022, Avaya announced: (1) it determined there is substantial doubt about its ability to continue as a going concern; (2) it would not timely file its financial statements for the quarter ended June 30, 2022; (3) its Audit Committee commenced internal investigations into circumstances surrounding the company's financial results for the quarter; and, (4) the Committee also commenced an investigation into matters raised by a whistleblower. This news sent the price of Avaya shares crashing 45% lower that day.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144870

Original Source of the original story >> Avaya Investor Alert


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