The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Avaya Holdings Corp. (NYSE: AVYA) who purchased shares between November 22, 2021 and November 29, 2022. The action, which was filed in the United States District Court for the Middle District of North Carolina, alleges that the Company violated federal securities laws.
In particular, the Avaya lawsuit alleges that (i) the Company’s internal control over financial reporting 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.
Shareholders have until March 6, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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