AVYA INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Involving Possible Securities Fraud Violations by Certain Officers and Directors of Avaya Holdings Corp.

Published: Aug. 12, 2022 at 11:58 AM CDT

NEW YORK, Aug. 12, 2022 /PRNewswire/ -- Levi & Korsinsky notifies investors that it has commenced an investigation of Avaya Holdings Corp. (NYSE: AVYA) (OTC: AVYAW) ("Avaya" or the "Company") concerning possible violations of federal securities laws.

Levi & Korsinsky, LLP (PRNewsfoto/Levi & Korsinsky, LLP)
Levi & Korsinsky, LLP (PRNewsfoto/Levi & Korsinsky, LLP)(PRNewswire)

On August 9, 2022, The Wall Street Journal published an article entitled "Avaya Taps Legal, Financial Advisers to Look at Debt Options" and another entitled "Avaya's Collapsing Debt Deal Hits Clients of Goldman, JPMorgan". These articles reported 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. According to the articles, the Company not only failed to provide an explanation for the dramatic earnings miss, but also indicated that it would miss revenue targets and was removing its CEO. According to the articles, the Company's audit committee opened an internal investigation regarding the most recent quarter and is also investigating a whistleblower letter.

Following the publication of these articles, Avaya's stock price fell 45% on unusually heavy trading volume.

To obtain additional information, go to:

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171

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SOURCE Levi & Korsinsky, LLP

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