Glancy Prongay & Murray LLP, a leading securities fraud law firm, announces an investigation into Avaya Holdings Corp. (AVYA) on behalf of investors

LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has initiated an investigation on behalf of Avaya Holdings Corp. (“Avaya” or the “Company”) (NYSE: AVYA) investors regarding the Company’s possible violations of federal securities laws.

If you have suffered a loss on your Avaya investments or would like to inquire about possible claims to recover your loss under federal securities laws, you may submit your contact information at cases/avaya-holdings-corp/. You may also contact Charles H. Linehan of GPM at 310-201-9150, toll-free at 888-773-9224, or by email at shares[email protected] to learn more about your rights.

On August 9, 2022, Avaya released its preliminary financial results for the third quarter of 2022, reporting sales of $577 million, down 20% year-over-year in constant currency. The company offered no explanation for the shortfall, but revealed that there is “substantial doubt about the company’s ability to continue as a going concern”. The company also announced that its audit committee is investigating a whistleblower letter and its recent earnings report. As an article of The Wall Street Journal pointed out, Avaya missed earnings and cut its earnings forecast by 60% just weeks after borrowing $600 million from institutional investors in June.

On this news, Avaya’s stock fell $0.51, or 45.5%, to close at $0.61 per share on August 9, 2022, hurting investors.

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Notice of denunciation: Individuals with nonpublic information about Avaya should consider their options for assisting the investigation or taking advantage of the SEC’s whistleblower program. Under this program, whistleblowers who provide original information can receive rewards of up to 30% of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected]

About GPM

Glancy Prongay & Murray LLP is a leading law firm representing investors and consumers in securities litigation and other complex class actions. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 report. In 2018, GPM was ranked among the top five law firms for the number of securities class action settlements and among the top six law firms for the full amount of the settlements. With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking decisions and recovered billions of dollars for investors and consumers in securities, antitrust, consumer and employment class action lawsuits. GPM attorneys have handled cases covering a wide range of corporate misconduct, including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings advice and forward-looking statements, audit misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM’s lawyers have worked on securities cases involving nearly every industry and sector of the capital markets, including energy, consumer discretionary, consumer staples, real estate and REITs, financials, insurance, information technology, healthcare, biotechnology, cryptocurrency, medical devices. , and much more. GPM’s past successes have been widely covered by major industry news and publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reutersthe Associated press, Barrons, Investor’s Business Daily, Forbesand Silver.

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