NEW YORK–(BUSINESS WIRE)–#AVYA–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Avaya Holdings Corp. (“Avaya” or the “Company”) (NYSE: AVYA) on behalf of Avaya stockholders. Our investigation concerns whether Avaya has violated the federal securities laws and/or engaged in other unlawful business practices.
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On August 9, 2022, the Wall Street Journal published an article disclosing information to investors. The article stated that Avaya had cut its earnings forecast by more than 60% just weeks after borrowing $600 million from institutional investors through deals arranged by Goldman Sachs and JP Morgan Chase. The article also stated that the company provided no explanation for the earnings miss and the Audit Committee opened an internal investigation following the most recent quarter and a whistleblower letter.
On this news, Avaya stock fell $0.20 per share, or 23%, to close at $0.67 per share on August 10, 2022.
If you purchased or otherwise acquired Avaya shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.